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Three year-end action items

See if any of the following action items apply to your retirement plan and take action prior to December 31, 2011:

1. Make discretionary amendments for plan design changes

Whether a defined benefit (DB) or defined contribution (DC) plan, any plan design changes that you want to be effective for the 2012 plan year need to be adopted by the
end of 2011. Examples of amendments include changes to automatic enrollment or matching amounts.

2. Complete in-plan Roth conversions

Earlier this year, I wrote about in-plan conversions to Roth accounts, part 1 & part 2. If you have an employee who wants to split the conversion amount between 2011
and 2012, be sure that proper documentation is executed prior to December 31, 2011.

3. Amend DC plan documentation if you suspended 2009 required minimum distributions

The Worker, Retiree and Employer Recovery Act (WRERA) of 2008 allowed DC plans to treat 2009 required minimum distributions (RMDs) as eligible rollover distributions. Make sure that your plan document is amended to reflect the 2009 RMD rollovers if you took advantage of this provision. (You were able to defer documentation until now.)

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