Correction of Target Benefit Plan Defects

[chris]

Target benefit plan adopted in 1989. Contributions calculated pursuant to formula in document. E/er has not filed 1997 through 2000 5500's and has other defects in plan. My understanding is that TRA '86 made changes to target benefit formulas. This plan doc was never amended for those changes nor for any other required changes since its adoption. Can anyone confirm that the target benefit formulas were amended? Clearly, the correct contribution would be one calculated as per the amended target benefit formula. Also, the plan purchased an insurance policy on a participant who was ineligible for a contribution as he had already hit his normal retirement age. The plan has paid the premiums on this policy since day 1. Any insight as to correcting the defect concerning the insurance policy? Anyone know of a good resource with respect to target benefit plans in general??

Thanks.