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Plan amendment


retbenser

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The plan document itself must specify who has the authority to amend the plan. It will usually be the plan sponsor or the principal employer, although it could be the pension committee or the benefits committee. But the plan will specify. And things have to be done that way.

Theoretically, if procedures are not properly followed (i.e., if the person who signed the amendment did so without valid authorization), the IRS could challenge the validity of the amendment. Not sure if that happens with any frequency. It is probably more likely that plan participants will litigate over that point.

Always check with your actuary first!

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