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February 17, 2009




The act of making updates or changes to a plan’s provisions, features and/or benefits. Some amendments are required by law, whereas others are done at the employer’s discretion. For instance, the GUST and EGTRRA amendments are required by law.

Referring Cite

Rev. Proc. 2000-20, Notice 2006-44 ,Rev. Proc. 2002-73, 2002-49; Rev. Proc. 2003-72

Additional Helpful Information

Amendments that are required by law must usually be completed within timeframes established under the tax code or other authority. Failure to complete these amendments on a timely basis could result in the plan losing it’s tax-deferred status.


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Qualified Charitable Distribution (QCD)

Definition A distribution that is excludable from the distributee’s income, as a result of meeting the following requirements: It is made after the distributee reaches

Saver’s Credit

Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit

Catch-up Contribution

Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the

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