"[T]he Department has determined that amendments adopted by qualified retirement plan sponsors in Puerto Rico to adopt the provisions of the SECURE Act 2.0, whether optional or mandatory ... will not be considered part of the definition of the term 'Qualification Amendments'. Therefore, if a qualified retirement plan in Puerto Rico is amended to adopt the provisions of the SECURE Act 2.0, the plan does not have to be resubmitted to the Department to request a new Letter of Qualification. Any amendments adopted by qualified retirement plan sponsors under the Code, in parallel with the approval of amendments to adopt the provisions of the SECURE Act 2.0, are outside the scope of this Determination; therefore, they must be analyzed in light of CC PC 16-08 to determine whether they should be submitted to the Department for plan qualification."  MORE >>