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This document contains samples of plan provisions that satisfy specific requirements of the Internal Revenue Code for sponsors of Master or Prototype Plans, aimed at facilitating the drafting or redrafting
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How to fill out Defined Contribution Listing of Required Modifications and Information Package (LRM)

01
Gather all relevant plan documents and amendments pertaining to the Defined Contribution Plan.
02
Identify the specific modifications and information required by the LRM guidelines.
03
Complete each section of the Defined Contribution Listing by entering the plan name, plan year, and employer identification number.
04
For each modification, provide a brief description, effective date, and indicate if the modification has been submitted for approval.
05
Review the completed listing for accuracy and ensure all necessary supporting documentation is attached.
06
Submit the completed Defined Contribution Listing along with the Information Package to the appropriate regulatory body by the specified deadline.

Who needs Defined Contribution Listing of Required Modifications and Information Package (LRM)?

01
Plan sponsors and administrators of Defined Contribution Plans.
02
Employers maintaining qualified retirement plans.
03
Legal and compliance teams involved in pension plan administration.
04
Financial auditors reviewing plan documents for compliance.
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People Also Ask about

Both are funded with pre-tax dollars, and they have the same annual contribution limits. The key difference is who the plans are for: 401(k) plans are for employees at for-profit companies, while 403(b) plans are for government workers and employees at not-for-profits.
A 401(k) Plan is a defined contribution plan that is a cash or deferred arrangement. Employees can elect to defer receiving a portion of their salary which is instead contributed on their behalf, before taxes, to the 401(k) plan. Sometimes the employer may match these contributions.
Defined-Contribution Plan As the employer has no obligation toward the account's performance after the funds are deposited, these plans require little work, are low risk to the employer, and cost less to administer.
One is that the employee may not have as much money available for retirement as they would have if the company had chosen to offer a defined benefit plan. Another disadvantage is that the employee may be responsible for making investment decisions, which can be risky.

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The Defined Contribution Listing of Required Modifications and Information Package (LRM) is a comprehensive resource that outlines necessary modifications and information regarding defined contribution plans, ensuring compliance with regulatory requirements.
Employers and plan administrators who sponsor defined contribution plans are required to file the Defined Contribution Listing of Required Modifications and Information Package (LRM) with the appropriate regulatory authority.
To fill out the Defined Contribution Listing of Required Modifications and Information Package (LRM), plan sponsors must follow the provided guidelines, ensuring all sections are completed with accurate and up-to-date information about the plan modifications.
The purpose of the Defined Contribution Listing of Required Modifications and Information Package (LRM) is to inform regulatory authorities about any required plan modifications, ensuring that retirement plans comply with current laws and regulations.
Information reported on the Defined Contribution Listing of Required Modifications and Information Package (LRM) typically includes details about plan amendments, participant information, compliance status, and any changes in plan terms.
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