The guidance package, Defined Contribution Listing of Required Modifications and Information Package (LRM) [3-2005], provided samples of plan provisions to sponsors of master and prototype defined contribution plans. “We have prepared this package to assist sponsors who are drafting or redrafting plans to conform to applicable law and regulations, and we hope that it will be a key factor in enabling us to process and approve master and prototype plans more quickly,” IRS officials said in the document.
>The DC document reflects provisions enacted under the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). The agency also put out sample plan provisions that satisfy certain Internal Revenue Code requirements amended by EGTRRA with technical corrections made by the Job Creation and Worker Assistance Act of 2002.
The tax agency also put out an LRM for master and prototype plans with cash or deferred arrangements . “The new CODA LRMs reflect the proposed regulations under section 402A relating to Roth 401(k) elective deferrals,” the IRS said.
>The IRS said that the LRMs would be updated at a later date to include more changes related to limitations on benefits expected once proposed regulations are issued under tax code Section 415.
Other LRMs are here .