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February 16, 2009

Master Plan

Your Guide

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Definition

A plan that is made available by a plan sponsor for adoption by more than one employers with all the employers using a single funding medium for plan contributions. The funding medium being a trust or custodial account.

A master plan consists of a basic plan document, an adoption agreement and, unless included in the basic plan document, a trust or custodial account document .

Referring Cite

Revenue Procedure 2000-20

Additional Helpful Information

  • Master plans include those covering self-employed individuals
  • Determination letter requests for master plans are submitted on Form 5307

Written By

Denise Appleby

Denise is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA resources for financial/ tax/legal professionals. She has over 20 years of experience in the retirement plans field, which includes training and technical consultation.

Denise writes and publishes educational /marketing tools for advisors; available at http://irapublications.com. Denise co-authored several books on IRAs

Denise is a graduate of The John Marshall Law School, where she obtained a Masters of Jurisprudence in Employee Benefits, and has earned 5 professional retirement designations.
She has appeared on numerous media programs, sharing her insights on retirement tax laws.

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Annual Benefit Limit

Definition The annual benefit limit for defined benefit plans is the lesser of: A) 100% of the participant’s average compensation for his or her highest

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