Brandon1997 Posted December 11, 2019 Posted December 11, 2019 I was wondering if anyone knew if changing from an integrated formula to a cross-tested formula requires a Summary of Material Modifications? Thanks!
Bird Posted December 11, 2019 Posted December 11, 2019 It changes what is in the SPD, so yes Ed Snyder
Larry Starr Posted December 11, 2019 Posted December 11, 2019 5 hours ago, Brandon1997 said: I was wondering if anyone knew if changing from an integrated formula to a cross-tested formula requires a Summary of Material Modifications? Thanks! Bird gave you the right answer (and the only correct answer), but did you consider LOOKING at the existing SPD and what an SPD that has the different language looks like? If you have plans of that type all ready, you should have a ready resource to review the differences. And yes, if you do it as an amendment, you will definitely need an SMM to explain the different provision(s). Lawrence C. Starr, FLMI, CLU, CEBS, CPC, ChFC, EA, ATA, QPFC President Qualified Plan Consultants, Inc. 46 Daggett Drive West Springfield, MA 01089 413-736-2066 larrystarr@qpc-inc.com
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