2007 End of Year Checklists

2007 End of Year Plan Sponsor “To Do” Lists is a document that provides a checklist of items to address by the plan sponsor by the end of the year. If you have a different plan year, some of the due dates will be different.

• All Qualified Plans list
  
  
• Adopt Design Changes by End of Plan Year
  
• Adopt EGTRRA Restatement if in Cycle B
  
• Adopt Katrina, Wilma, and Rita Distribution/Loan Amendments
  
• Review 2008 Plan Limits
  
• Comply with the Final Section 415 Regulations
  
• Increase Maximum Bond if Plan Holds Employer Securities
  
• Distributions Can be Directly Rolled Over to Roth IRAs
  
  
• 401(k) Plans list
  
  
  • All Qualified Plans list
    
  • Provide 401(k)/401(m) Safeharbor Notice by December 2, 2007 for Calendar Year Plans
    
  • Review 401(k) Definition of Compensation
    
  • Consider New Default Investment Safe Harbor
    
  • Comply with New Benefit Statement Requirement
    
  • Consider Adding Qualified Automatic Contribution Arrangement to Plan
    
  • Consider Increasing Period During which Excess Contributions May be Returned
    
    
• Other Defined Contribution Plans list
  
  
  • All Qualified Plans list
    
  • Comply with New Benefit Statement Requirement
    
  • Consider Impact of Low Normal Retirement Age Regulations on Money Purchase Pension Plans
    
  • Add 75% Annuity Option to Money Purchase Pension Plans
    
    
• Executive Compensation list
  
  
• Year End Deadline to Make Certain Elections under Nonqualified Deferred Compensation Plans
  
• Identify Plans Subject to the New Section 409A Nonqualified Deferred Compensation Rules
  
• Review Stock Option Grant Procedures for Upcoming Grants
  

The document also contains checklists for defined benefit plans and health and welfare plans and includes additional information on some of the recent rules and regulations.