Important Reminders for Our Clients with Prototype Plan Documents

March 8, 2007 Advisory

Final regulations under Code Sections 401(k) and 401(m) were effective for Plan Years beginning on and after January 1, 2006. The regulations contained changes and clarifications to plan provisions relating to nondiscrimination testing, salary reduction elections, distributions, hardship withdrawals, and safe harbor contributions. Most changes were mandatory, but some were optional.

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