Preeminent ERISA Law Firm, The Wagner Law Group, Receives IRS Approval of its Volume Submitter Defined Benefit Pension Plan
04/13/2018 | 03:01pm CEST
BOSTON, April 13, 2018 (GLOBE NEWSWIRE) -- The Wagner Law Group has received IRS approval of its volume submitter defined benefit pension plan, further bolstering the firm’s position at the forefront of the qualified retirement plan document and compliance realm.
A volume submitter plan is a pre-approved document that has an IRS advisory letter on which adopters of the plan can rely with respect to the form of the document, including various options (as described below) that have been subject to comprehensive IRS review. The Wagner Law Group’s new pre-approved volume submitter defined benefit pension plan represents an excellent opportunity for sponsors of defined benefit pension plans to have assurance that their plan document language complies with legal requirements.
By adopting The Wagner Law Group’s volume submitter defined benefit pension plan, a plan sponsor will have a single, streamlined document, rather than a confusing “check-the-box” adoption agreement and weighty base document, that will be easier to understand and administer. The Wagner Law Group’s volume submitter plan has flexible design options to meet the needs of most plan sponsors, including the following available features:
Multiple benefit accrual formulas, including a cash balance feature;
Various eligibility and service-counting options;
A loan provision;
Various vesting alternatives; and
Numerous optional forms of payment.
Sponsors wishing to adopt a volume submitter defined benefit plan document must do so before the IRS’s April 30, 2020 deadline.
The Wagner Law Group received approval of its volume submitter 403(b) plan last year. Sponsors wishing to adopt a volume submitter 403(b) plan must do so before the IRS’s March 31, 2020 deadline.
For more information about The Wagner Law Group’s volume submitter defined benefit pension plan, please contact Jon Schultze.
The Wagner Law Group:
The Wagner Law Group has been dedicated to the highest standards of integrity, excellence and thought leadership for over two decades and is considered to be the nation’s premier ERISA and employee benefits law firm. With 34 attorneys in eight offices, it provides unparalleled legal advice to its clients, including large, small and nonprofit corporations as well as individuals and government entities nationwide and in several foreign countries. The firm’s attorneys combine many years of experience in their fields of practice and include those who are AV rated by Martindale-Hubbell and have been named to the prestigious Super Lawyers list for 2017. The Wagner Law Group is certified as a woman-owned and operated business by the Women’s Business Enterprise National Council.