Amendment Timing

[Stash026]

I have a plan that currently has compensation defined as W-2 Compensation. They wanted to make the change to Section 415 "safe harbor" compensation, but when can I make the amendment for?

If I did it today, could it be done for the 2008 Plan Year or does it have to be for 2009?

Thanks for your help!

[Guest Sieve]

Not necessarily either. Can't change for calendar year 2008, because it is a voluntary amendment which must be made by year-end. Can't make a change for 2009 if the revision will reduce amounts already accrued for 2009, unless it is prospective only.