2023 Retirement Plan Year-End Amendments And Operational Compliance

As the end of 2023 approaches, it's again time for plan sponsors to review their plan documents and plan operations to ensure compliance with increasingly complex qualification requirements and moving deadlines. While there are no mandatory plan amendments due this year, plan sponsors must remain diligent about discretionary amendment deadlines, operational compliance with changes in law, and ensuring later-adopted plan amendments accurately reflect plan operations.

Year-End Plan Amendments

There are no generally applicable amendments that are required to be adopted by the end of 2023 per the Required Amendments List. However, Plan amendments may need to be adopted by the end of 2023 for plan design changes. Generally, plan documents should be amended by plan year-end for any "discretionary" changes implemented during 2023. These discretionary changes may include plan design changes (other than required compliance amendments described below), changes in