For those with defined contribution pre-approved plans, it’s time to restate your plan document. You have until July 31, 2022, to fully restate your plan document for the Cycle 3 changes.
While not as substantive as previous restatements (it doesn’t even use the acronym of a retirement plan law change like other previous restatements), it still must be done because the Internal Revenue Service said so.
Contact me if you need a restatement at a flat fee.