Under current IRS rules and procedures, most qualified retirement plans must be restated (rewritten from scratch) every 6 years…just because. (OK, not really “just because”; there are historical reasons that we won’t bore you with, but in a nutshell, Congress, DOL and the IRS tinker with the rules so often that there are usually valid reasons to start over every 6 years.)
We are approaching another restatement period and will be contacting our clients about procedures. (Read the April 2014 newsletter for details.)