Internal Revenue Service Department of the Treasury
Plan Description: Prototype Washington, DC 20224
Standardized Profit
Sharing Plan with CODA
FFN: 50287641903-001 Case: 9303689 Person to Contact: Ms. Arrington
EIN: 25-0851535 BPD: 03 Plan: 001
Letter Serial No: D261256a Telephone No: (202) 622-8173
U S BANCORP TRUST CO. Refer Reply to: E:EP:Q:ICU
MAIN & FRANKLIN STREETS Date: 03/09/93
JOHNSTOWN, PA 15901
Dear Applicant:
In our opinion, the form of the plan identified above is
acceptable under section 401 of the Internal Revenue Code for use
by employers for the benefit of their employees. This opinion
relates only to the acceptability of the form of the plan under
the Internal Revenue Code. It is not an opinion of the effect of
other Federal or local statutes.
You must furnish a copy of this letter to each employer who
adopts this plan. You are also required to send a copy of the
approved form of the plan, any approved amendments and related
documents to each Key District Director of Internal Revenue
Service in whose jurisdiction there are adopting employers.
Our opinion on the acceptability of the form of the plan is not a
ruling or determination as to whether an employer's plan
qualifies under Code section 401(a). An employer who adopts this
plan will be considered to have a plan qualified under Code
section 401(a) provided all the terms of the plan are followed,
and the eligibility requirements and contribution or benefit
provisions are not more favorable for highly compensated
employees than for other employees. Except as stated below, the
Key District Director will not issue a determination letter with
regard to this plan.
Our opinion does not apply to the form of the plan for purposes
of Code section 401(a)(16) if: (1) an employer ever maintained
another qualified plan for one or more employees who are covered
by this plan, other than a specified paired plan within the
meaning of section 7 of Rev. Proc. 89-9, 1898-1 C.B. 780; or (2)
after December 31, 1985, the employer maintains a welfare benefit
fund defined in Code section 419(e), which provides
postretirement medical benefits allocated to separate accounts
for key employees as defined in Code section 419A(d)(3).
An employer that has adopted a standardized plan may not rely on
this opinion letter with respect to: (1) whether any amendment or
series of amendments to the plan satisfies the nondiscrimination
requirements of section 1.401(a)(4)-5(a) of the regulations,
except with respect to plan amendments granting past service that
meet the safe harbor described in section 1.401(a)(4)-5(a)(5) and
are not part of a pattern of amendments that significantly
discriminates in favor of highly compensated employees; or
(2) whether the plan satisfies the effective availability
requirement of section 1.401(a)(4)-4(c) of the regulations with
respect to any benefit, right or feature.
An employer that has adopted a standardized plan as an amendment
of a plan other than a standardized plan may not rely on this
opinion letter with respect to whether a benefit, right or other
feature that is prospectively eliminated satisfies the current
availability requirements of section 1.401(a)-4 of the
regulations.
The employer may request a determination (1) as to whether the
plan, considered with all related qualified plans and, if
appropriate, welfare benefit funds, satisfies the requirements of
Code section 401(a)(16) as to limitations on benefits and
contributions in Code section 415; (2) regarding the
nondiscriminatory effect of grants of past service; and (3) with
respect to whether a prospectively eliminated benefit, right or
feature satisfies the current availability requirements.
Our opinion does not apply to the form of the plan for purposes
of section 401(a) of the Code unless the terms of the plan, as
adopted or amended, that pertain to the requirements of sections
401(a)(4), 401(a)(5), 401(a)(17), 401(l), 410(b) and 414(s) of
the Code, as amended by the Tax Reform Act of 1986 or subsequent
legislation, (a) are made effective retroactively to the first
day of the first plan year beginning after December 31, 1988 (or
such other date on which these requirements first became
effective with respect to this plan); or (b) are made effective
no later than the first day on which the employer is no longer
entitled, under regulations, to rely on a reasonable, good faith
interpretation of these requirements, and the prior provisions of
the plan constitute such an interpretation.
Because you submitted this plan for approval after March 31,
1991, the continued and interim reliance provisions of section 13
of Rev. Proc. 89-9, 1989-1 C.B. 780, are not applicable.
However, solely for purposes of section 17.03 of Rev. Proc. 89-9,
you are deemed to have submitted this plan prior to March 31,
1991, and therefore the extended reliance provisions of section
17.03 are applicable.
If you, the sponsoring organization, have any questions
concerning the IRS processing of this case, please call the above
telephone number. This number is only for use of the sponsoring
organization. Individual participants and/or adopting employers
with questions concerning the plan should contact the sponsoring
organization. The plan's adoption agreement must include the
sponsoring organization's address and telephone number for
inquiries by adopting employers.
If you write to the IRS regarding this plan, please provide your
telephone number and the most convenient time for us to call in
case we need more information. Whether you call or write, please
refer to the Letter Serial Number and File Folder Number shown in
the heading of this letter.
You should keep this letter as a permanent record. Please notify
us if you modify or discontinue sponsorship of this plan.
Sincerely yours,
/s/
Chief, Employee Plans Qualifications Branch