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Old 10-22-2008, 04:55 PM
davefarber davefarber is offline
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Join Date: Nov 2001
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Quote:
Originally Posted by colby2152 View Post
When you say, "or use an automatic approval", then does that mean that the plan actuary does not have to apply for the change? Excuse me if I sound dense.
It depends upon the change. If it is covered in a ruling or notice or procedure, such as Revenue Procedure 2000-40, then no application is necessary. But note that 2000-40 primarily would only work at this point for multiemployer plans. There is automatic approval in the proposed regulations for IRC section 430 for compliance with the 430 cost method.
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