Restatement

PLAN RESTATEMENTS

Pre-Approved Defined Contribution Plans

The majority of profit sharing and 401(k) plans are on pre-approved plan documents.  These documents are required to be restated on a six year cycle as determined by the IRS.

All pre-approved defined contribution plan documents were required to be restated by April 30, 2016 to incorporate the provisions from the Pension Protection Act of 2006 (PPA).   We are currently in the Post PPA (Cycle 3) restatement window.  All plans must currently be restated by July 31, 2022.

Individually Designed Plans

All ESOPs we administer are individually designed plans drafted by an attorney. Some profit sharing and 401(k) plans are also individually designed plans.  Individually designed plans were on a five year restatement cycle but the IRS eliminated that pre-set schedule.  Plan restatements are now coordinated with the ERISA attorney.

Please contact KJ Retirement Consultants, LLC at (651) 797-3440 if you are not sure whether your plan document is an individually designed plan or a pre-approved plan.