Are you still issuing the (lame) "Trustee Notification"?

[Guest Happy Actuary]

Apparently, Carol Gold issued a memorandum dated 3/13/98 that said in order to use new comp. without designating the contribution rates in the plan document, the Employer must issue an annual Trustee notification each year, stating the rates. (See ASPA ASAP # 98-10)

Is this still applicable? (I thought I had heard it no longer was?) If no longer applicable, we could finally stop with these silly notices. Are we the only ones still doing them?

David

[AndyH]

We're requiring Board resolutions specifying the amount per category because this is what the plan document (volume submitter) says is required. I'm not clear on whether the "requirement" that you referenced has actually changed.

[Blinky the 3-eyed Fish]

At the LA ASPA Conference back in January, Holland, Wickersham, or some other government guy (my memory escapes me) opined that the need to prepare this resolution was not required for the benefit to be definitely determinable.

Of course, this was only one man's opinion. If your document has some language that requires it, then I would say it's needed.

[k man]

we do a letter of instruction from the plan sponsor to the trustee per terms of the volume submitter document.