chane in plan year necessary?

[wsp]

Company has a 6/30 pye for dental plan. Last october they switch providers. Old company provided Schedule A up through September 30. New company changed policy year from 7/1 to 10/1. I realize that for ease of recordkeeping I should have changed the plan year end to 10/1 back then...but since I didn't hear about it until now, I'm way past that.

What's required for me to change in terms of participant notice, plan amendments, and filings. Is it so simple as no notice necessary, 1 page amendment, and filing for short plan year through 10/2005? Or even easier? No notice and no amendment...

I have to say this filing is rediculous and a colossal waste of time. 2 entries on a Schedule A hardly seems worth the effort.

[Guest jg062098]

I do not think a change in Plan Year is necessary. For the 2005 Plan Year Form 5500, you will have a Plan Year of 07/01/04 - 06/30/05 and report on Schedule A a contract year for old company beginning 07/01/04, ending 09/30/04 For the 2006 Plan Year Form 5500, you will have a Plan Year of 07/01/05- 06/30/06 and report on Schedule A a contract year for the new company beginning 10/01/04, ending 09/30/05. The reason I am saying this is if you have a Plan Year that ends 06/30 with a different contract year, the contract year end reported on Schedule A should generally be 9 months earlier (in your case the contract year end would be 09/30). This is how I would handle it.

[E as in ERISA]

There are lots of 5500s filed with Schedule As showing different contract years. The company benefits people like things on a calendar year basis. But insurance people don't want all contracts bunched at year end. So it is common that they don't match.