Page 37 - AprDefComp
P. 37

Extended deadline for certain amendments












 • Extension applies only to the provisions just discussed


 • Plan can operate with those provisions and amend after the fact



 • Sponsor's choice to include optional provisions


 • Amendment deadline:


 • Most plans: Last day of first plan year beginning on or after January 1, 2022


 • Governmental plans: Last day of first plan year beginning on or after January 1, 2024


 • Other sponsor-initiated amendments must be executed by the normal deadline



 • Generally, by the last day of the plan year in which the change is effective


 • Some amendments must be made in advance











                                                                                         16
   32   33   34   35   36   37   38   39   40   41   42