jeanh Posted May 23, 2018 Share Posted May 23, 2018 With the DB prototypes finally getting approval letters - what dates should be used for effective date of restatement? Link to comment Share on other sites More sharing options...
CuseFan Posted May 23, 2018 Share Posted May 23, 2018 i usually use first day of current PY. Retroactive reaching provisions usually have their specific effective dates. And document language usually says effective as of X or as otherwise provided. Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com Link to comment Share on other sites More sharing options...
Madison71 Posted May 24, 2018 Share Posted May 24, 2018 Remember the GUST restatements on DC plans from 2000 that you could restate back to 1997 or the beginning of current plan year? Confusing. I do the same as Cusefan Link to comment Share on other sites More sharing options...
Bird Posted May 24, 2018 Share Posted May 24, 2018 I agree, first day of the current plan year is usually the correct date. Retroactive provisions are generally buried in the Basic Plan Document. But your document provider should provide guidance on this. Ed Snyder Link to comment Share on other sites More sharing options...
K2retire Posted May 24, 2018 Share Posted May 24, 2018 I remember one restatement (EGTRRA maybe?) where Relius instructed us to make it the date of the law change. That was several years earlier than when the actual restatement was happening. I always thought that was far too confusing. Link to comment Share on other sites More sharing options...
jeanh Posted May 24, 2018 Author Share Posted May 24, 2018 Yes, I usually use first day of current plan year, but some provisions go back quite a few years, so just wanted to know what general consensus was thanks Link to comment Share on other sites More sharing options...
John Feldt ERPA CPC QPA Posted May 24, 2018 Share Posted May 24, 2018 Ask your document provider to be sure. They may have a different answer for cash balance vs a DB plan that is already on their preapproved document. Link to comment Share on other sites More sharing options...
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