November 2, 1989
TO: PENSION MEMBERS NO. 49-89
RE: IRS EXTENSION OF CUT-OFF DATE FOR ADOPTING MODEL
CODA AMENDMENT
__________________________________________________________
Earlier this year, the IRS announced that it would
discontinue the model amendment published in Notice 87-34 for use
by sponsors of master or prototype profit-sharing plans to
incorporate a cash or deferred arrangement (CODA) under section
401(k) of the Code. (See Institute Memorandum to Pension Members
No. 28-89, dated June 8, 1989.) Notice 89-68 provided that the
IRS would not accept applications for opinion letters with
respect to the model CODA after October 31, 1989.
Attached is a copy of IRS Announcement 89-139, which states
that the cut-off date for such applications has been extended to
March 31, 1990 in order to conform with the extended deadline for
submission of master or prototype plan amendments under Revenue
Procedure 89-9. (See Institute Memorandum to Pension Members No.
45-89, dated October 3, 1989.)
We will keep you informed of further developments.
Kathy D. Ireland
Associate General Counsel
Attachment