Plan Amendment

[Gary]

Say a small defined benefit or defined contribution plan (less than 15 participants) wants to make a plan amendment.

While conceptually and operationally such a change is straight forward I want to discuss paperwork logistics.

My belief is to keep things simple and that there is more than one way to skin a cat.

For purposes of this thread let's ignore the participant notices 204h, etc. I just want to focus on the plan itself.

With that said, to make a plan change is it satisfactory to prepare a written consent by the Board that also satisfies a resolution and provide that with the plan amendment (both for signature)?

And finally, is there specific language that must be included in the consent and amendment, in addition to the actual substance of the plan change? I would think that there is not a precise way that this be done as long it accomplishes a few basic things.

Curious to get comments, with the goal of keep it simple.

Thank you.