Your eBriefcase

Welcome to the eBriefcase Management Center. This function allows you to compile selected pages to your personalized eBriefcase, where you may add to, delete or drag to reorder items. Once assembled, you can create a PDF of your eBriefcase. Click on the eBriefcase link at the top right of the page to open your collection of pages.

2016 Deadline to Adopt Updated Pre-Approved Defined Contribution Retirement Plans

Tax and Employee Benefits Alert

October 20, 2015

All employers who are using a pre-approved form for their 401(k), profit sharing, or other defined contribution plan must sign updated documents on or before April 30, 2016 to preserve the tax-qualified status of the plan. 

Most employers who sponsor retirement plans are subject to this requirement.  Read the IRS explanation of why a revised plan is necessary, and what steps employers should take.

Plan vendors have started communicating with employers about this required update.  You should keep an eye out for these communications if you sponsor a retirement plan using a pre-approved form.  If you are not certain whether this requirement applies to your company’s plan, you should contact your plan service providers or legal counsel.

Sue Odom is a Member (Partner) at Nexsen Pruet in Columbia. She helps companies keep their employee benefit plans in compliance with the applicable laws to preserve their tax-favored status.  Her practice focuses on ERISA, employee benefits, ESOPs, executive compensation, and tax-exempt organizations.