Adding QDIA to Plan

[Chippy]

I have a plan adding a QDIA to their plan in 2016. It is on a FT William VS prototype. The Adoption Agreement does not mention the QDIA, it is included in the administrative elections.

Since it is not mentioned in the adoption agreement, I'm assuming that an amendment does not need to be made.

Is a corporate resolution or any other type of documentation needed to add it to the plan?

[Lou S.]

The investment committee should keep minutes of the decision to add the QDIA.

An amendment is not required.

You will need to comply with the annual QDIA notice if you want the fiduciary relief that comes with defaulting folks into the QDIA.

[Belgarath]

We don't use the FT William document, but I've seen others that are similar.

We always prepare a specimen resolution - whether they choose to use it (or need to) is up to them. We also do a SMM - even though no amendment is required, it would generally, depending upon the detail in the SPD, require a modification to the SPD language.