The documents behind DC, DB, and nonqualified plans — what governs the plan, what participants must receive, and keeping it all current.
A 401(k) runs on its plan document (usually a pre-approved adoption agreement plus basic plan document), the trust agreement, the summary plan description for participants, and amendments. Operating out of sync with these documents is among the most common — and correctable — compliance failures.
Read the full answerA defined contribution plan (like a 401(k)) provides individual accounts whose value depends on contributions and investment returns — participants bear investment risk. A defined benefit plan promises a formula-based benefit at retirement — the employer bears the risk and funds it accordingly.
Read the full answerA nonqualified (NQ) plan lets a select group of executives defer compensation outside the qualified plan limits. NQ plans escape most ERISA requirements as unfunded "top hat" plans, but they're governed strictly by tax Code Section 409A, where documentation and election-timing errors are costly.
Read the full answerA restatement rewrites the entire plan document to incorporate accumulated amendments and law changes. Pre-approved defined contribution documents must be restated on the IRS's roughly six-year cycle; missing the window jeopardizes the plan's tax qualification.
Read the full answerNew participants must receive the SPD within 90 days of coverage; updated SPDs follow amendments on ERISA's schedule. Layered on top are annual notices — 401(k) safe harbor, QDIA, automatic enrollment, participant fee disclosures — most clustering ahead of each plan year.
Read the full answerPut these answers to work
Fiduciary In A Box walks your team through every one of these requirements step by step — documenting decisions, organizing files, and keeping your plan compliant year-round.
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