Volume Submitter Defined Benefit Plan Release on DocsEngine

PPA-Approved Volume Submitter Defined Benefit Plan Available on DocsEngine

We are happy to announce that the Document Agility, Inc. Defined Benefit Volume Submitter Plan is available to restate your clients' plans for the changes made by The Pension Protection Act of 2006 (PPA). To create new PPA DB plan, use the the Document Group: Defined Benefit (PPA) and Document Type: PPA Volume Submitter DB Plan when you create a new document.

Conversion of EGTRRA Answers to PPA Answers

For DB plans currently on the DocsEngine system, answer sets for EGTRRA DB plans can be used as the basis for creating a PPA DB plan and will transfer a large percentage of information. Some data, such as new or substantially changed provisions and effective dates, will require data entry.

We highly recommend that PPA documents be carefully verified before providing them to your clients.

PPA Restatement Deadline

Adopting employers restating for PPA must adopt the pre-approved plan by April 30, 2020. For those plans that must be filed with the IRS for individual determination letters, please see Revenue Procedure 2018-04 for guidance and applicability.

The IRS has not yet issued guidance for the next six-year remedial amendment cycle for pre-approved defined benefit plans (originally set for February 1, 2019).

Training

We are working to provide you with an overview of the new features and system applications through two, one-day training sessions. As soon as we have the dates solidified, we will announce them.

Have a Question or Need Information?

As always, if you have any questions on this new update, feel free to contact us at 877-346-5994 or support@accudraft.com.