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Plan Amendment Effective, but Late Adopted


BenefitsRUs21

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If statutory changes, probably OK, but if discretionary changes then VCP is the proper way to go. If the amendment was a reduction or limitation compared to prior revision, you'll likely need documentation of all the other steps completed in a timely manner, such as board resolution, employee communications, vendor communications, etc. demonstrating timely employer intent and (with the exception of signature) execution.

Kenneth M. Prell, CEBS, ERPA

Vice President, BPAS Actuarial & Pension Services

kprell@bpas.com

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BenefitsRUs21, I agree with CuseFan, but would add that it, e.g., this is a corporation and you have a board resolution adopted (e.g., by unanimous consent or at a meeting of directors) before end of 2018, that may be enough for adoption. Depending on the entity's type and governance, adoption may occur before signature by officer on amendment. often, however, signature is all you have, so the foregoing may not be relevant to your situation.

Luke Bailey

Senior Counsel

Clark Hill PLC

214-651-4572 (O) | LBailey@clarkhill.com

2600 Dallas Parkway Suite 600

Frisco, TX 75034

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