The Internal Revenue Service requires you as a retirement plan sponsor to periodically amend and restate your Putnam Pre-Approved Defined Contribution Plan documents for changes in federal law. This must be completed by July 31, 2022.
Fill out the Adoption Agreement document you received in the mail as soon as possible. These documents are known as the Putnam Pre-Approved Defined Contribution Plan.
Opinion Letters issued by the Internal Revenue Service are appended to the back of the documents above.
To meet the deadline, make sure the Adoption Agreement is signed, dated, and available for inspection by your employees, or other interested parties, by July 31, 2022.
Be sure to have a copy of your current Plan Document or Adoption Agreement on hand when completing your new Adoption Agreement.
So we can better serve you, please send us a copy of your completed Adoption Agreement.
Once you have completed your Adoption Agreement, complete your Summary Plan Description template using the elections you made in the Adoption Agreement. Download a Summary Plan Description template:
You must update your plan's Summary Plan Description within 210 days after the end of the plan year in which your plan was changed. Please note, you do not need to complete a Summary Plan Description if your plan only covers yourself, your spouse, or one or more owners (and their spouses).