Will Plan Document Restatements Impact Your Current Plan Design?

Understanding Plan Document Restatements

Every effort is made to dovetail your organization’s current 403(b) plan design into the Pre-Approved Prototype Plan Document. However, Envoy’s Pre-Approved Prototype Plan includes the elective plan provisions that are currently allowed under the IRS Code and the Department of Labor ERISA Regulations. 

In bringing your organization’s retirement plan into compliance with the current Code and Regulations, some changes may be required. The Adoption Agreement will clearly outline the elective provisions for your organization’s 403(b) retirement plan on a go-forward basis.