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April 18, 2009

Plan Document

Your Guide

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Definition
The document that provides the rules that govern the terms and conditions under which a retirement account is operated.
  • Employer sponsored plans generally have a Basic Plan Document, which provides an explanation of the terms and conditions under which the plan must operate, in order to remain in compliance with regulatory requirement
  • The plan document for IRAs is often referred to as the IRA Agreement, and is usually accompanied by the disclosure statement.
Referring Cite
Treas. Reg. 1.408-6, IRC § 401(a)
Additional Helpful Information
An employer that adopts a pre-approved prototype plan document, and makes changes to the underlying plan document may be considered to have adopted an individually designed plan depending on the changes made and subject to the amendment rules of an individually designed plan.

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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