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ARTICLE · 02 NOVEMBER 2021

Retirement Plan Amendments And 2021 Year-End Action Items

Alston & Bird
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Our Employee Benefits & Executive Compensation Group reminds plan sponsors to get ready for 2021 IRS year-end amendments and offers year-end action items.

United StatesEmployment and HR
Alston & Bird
Alston & Bird

Executive Summary

Our Employee Benefits & Executive Compensation Group reminds plan sponsors to get ready for 2021 IRS year-end amendments and offers year-end action items.

  • Qualified amendments
  • Changes under the SECURE Act, CARES Act, and hardship regulations 
  • Considerations for safe harbor plans

This advisory reminds qualified retirement plan sponsors of upcoming deadlines for amending qualified retirement plans and highlights other action items for plan sponsors to consider. 

Qualified Plan Amendments

Amendments for changes in law

December 31, 2021 Is the Deadline for Hardship Amendments

The final regulations issued under the Bipartisan Budget Act of 2019 require calendar-year plans to be amended no later than December 31, 2021. These rules affected the rules regarding hardship withdrawals from defined contribution plans, including the following:

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