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Cycle 3 - Document Restatements


msmith
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The Document Provider we will be utilizing for the Cycle 3 restatements has a notation at the top of the first page, on the Adoption Agreement - "[Collapsible Version – Elections that are not selected by the Employer and provisions that are not integral to the Plan are not included in the Adoption Agreement. A complete version of the Adoption Agreement has been made available for review to the Employer. The Employer certifies all provisions and elections appearing in this Adoption Agreement were taken from the complete version of the Adoption Agreement.]" 

We are utilizing the Collapsed Version and do not wish to supply the Plan Sponsor with the Adoption Agreement with all unselected provisions. We can see where the Client might just use this to "amend" their Plan, without informing us of the change. Obviously, we could add a watermark - but as you know, this will not stop some Clients from using it anyway.

How are other people handing this? Thank you.

 

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Our provider (FTW) has something similar, although it does not specifically say the "has been made available" part.  

We say, somewhere in the mountain of papers or emailed docs, that if they want to see the Basic Plan Document, they can download it from our website (which reminds me, I don't think the Cycle 3 doc is there yet...).  Included with the BPD is the AA with all answers.

I've had clients who were bound and determined to shoot themselves in the foot one way or another, but I don't think I've ever had anyone try to amend a plan on their own (!).

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We are providing a copy of the Basic Plan Document with each Cycle 3 package we produce. However, Clients being Clients, we are hesitant to provide a copy of an Adoption Agreement with all un-collapsed provisions. I can just see it now - "oh, we made the change on the full Adoption Agreement, didn't we tell you."

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