As the end of the year approaches, you may wish to review your goals and objectives with your retirement plan consultant to determine if any changes should be made. Typically, a calendar-year defined contribution plan can be amended as late as December 30th, other than time-sensitive items like adopting safe harbor design, in order to take advantage of changes for the 2012 year. End-of-year considerations can include the following:
- Match reinstatement
- Requirements for allocations
- Safe-harbor feature
- Acquisitions during the year
- Catch-up provisions
- Lump sum deferral option at year-end
- Cross-testing tiers
- Sales or down-sizing during the year
- Distributions to terminees with account balances
- Compliance with 404(c)
Feel free to contact me to discuss any important changes or to go over any questions you may have about improving the value and success of your retirement plan.