"Sponsor has a 401(k) plan with an EACA provision. They want to change the plan to be profit sharing only, effective as soon as possible. How much notice is required to be given? I know 30-90 days is best practice -- but is that required? Could they make the amendment effective tomorrow?"

"I am in the midst of preparing a restated defined benefit plan document for a multiemployer pension plan client. Since it had been a while since I even looked at them, I looked to see if there were any changes made to the recent IRS update on its Listings of Required Modifications for defined benefit plans. I noticed that the Code citation to the definition of current liabilities was to 412(l)(7). As you may know, in the mid 2000s, 412 was amended to take a good chunk of it out of the section and put it into Sections 430-433 instead. Surprisingly, the LRM did not catch this. Since this client has had to adopt a funding improvement plan, looking at the assets being 110% of current liabilities for the rules not to apply makes little sense in this context. I know that there is a blanket exemption from the nondiscrimination rules for collectively bargained employees. Since the pre-termination restrictions are contained int he 401(a)(4) regulations, it seems to me that they do not even have to be included in the plan. Am I missing something?"