Common use of AMENDMENT BY EMPLOYER Clause in Contracts

AMENDMENT BY EMPLOYER. The Employer may amend any option in the Adoption Agreement, and may include language as permitted in the Adoption Agreement, (a) to satisfy Code Section 415, (b) to avoid duplication of minimums under Code Section 416 because of the required aggregation of multiple plans, The Employer may add certain model amendments published by the Internal Revenue Service which specifically provide that their adoption will not cause the Plan to be treated as individually designed. An Employer that has adopted a Standardized Regional Prototype Plan (Adoption Agreements 001, 002, 003, 007, or 008) may amend the trust document provided such amendment merely involves the specifications of the names of the Plan, Employer, Trustee, Plan Administrator and other fiduciaries, the Trust year or the name of any pooled Trust in which the Plan's Trust will participate. An Employer that has adopted a Nonstandardized Regional Prototype Plan (Adoption Agreement 004, 005 or 006) will not be considered to have an individually designed plan merely because the Employer amends administrative provisions of the Trust document (such as provisions relating to investments and duties of Trustees) so long as the amended provisions are not in conflict with any other provision of the Plan and do not cause the plan to fail to qualify under Code Section 401(a). If the Employer amends the Plan and Trust Account other than as provided above, the Employer's Plan shall no longer participate in this Prototype Plan and will be considered an individually designed plan for which the Employer must obtain a separate determination letter.