Sample EGTRRA Amendments

[k man]

I have DB plan that drafted by someone else that was not amended for EGTRRA. Would it be permissable to simply adopt the amendments the IRS issued as good faith amendments in 2001-57? There is no way i would be able to amend the plan properly since it is customized. The plan is terminating and it needs to be in compliance.

[Guest AEA]

I am in the same dilemma - terminating DB plan that needs to be updated for EGTRRA - and wondering whether the good faith amendment alone is sufficient. How did you resolve?

[E as in ERISA]

Are you filing? If so, post-termination amendments that are made in order to get a favorable letter may still be considered "in connection with" the termination. See page 33 of the IRS' training. http://www.irs.gov/pub/irs-tege/epch902.pdf

[Guest AEA]

Yes, I am filing with the IRS. I took a look at the link you provided - thanks. However, I wonder if my answer is found instead in Chapter 2, Summary of EGTRRA and Recent Law Provisions, Part II (pages 12-13 & 108-111). Because I am working with a prototype plan, I think that I am going to try a separate, EGTRRA-only amendment but tie the good faith amendments to the specific plan provisions. I may include the 401(a)(9) and auto-rollover (and mortality table changes?) in the same document, also tied to specific plan provisions, but haven't decided yet.

Any thoughts?