Guest DMurphy Posted November 3, 1998 Posted November 3, 1998 Is a complete restatement of a 403(b)plan required when amending the plan for GUST, or will an amendment be permissible?
Guest CVCalhoun Posted November 4, 1998 Posted November 4, 1998 An amendment should be fine in most cases. However, I understand that IRS is refusing to issue rulings on plans which go through too many amendments without being restated. Restating a plan which has had several amendments is also a common sense approach, since it can be hard for participants (or human resources personnel) to figure out what the current rules are if they have to flip among an original plan and several amendments. By the way, for anyone not familiar with the acronym, GUST stands for General Agreement on Tariffs and Trade ("GATT"), Uniformed Services Employment and Reemployment Rights Act ("USERRA"), the Small Business Jobs Protection Act ("SBJPA"), and the Taxpager Relief Act. I guess with all the legislation we've had lately, people have taken to abbreviating the abbreviations, just in order to get some work done. [Note: This message was edited by CVCalhoun]
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