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IMPORTANT...

Your customized 401k plan and its corresponding plan administration software as well as the information in your 401k Management Guide were created (and are prodigiously updated each year) in light of FEDERAL 401k and pension plan regulations.

Some states have 401k and other pension rules that differ from their federal counterparts. It is highly recommended that you immediately check with your tax advisor for any derivations in your state's 401k/pension rules from those established by the federal government, particularly but not exclusively regarding limitations on such basic 401k operations as annual contribution amounts, IRA rollovers and pre-tax distributions. A reassessment should be made at least annually.

It is recommended that your plan be operated under the most conservative rules it will be subject to, whether those rules be mandated by a state or the federal government. Federal rules have been incorporated into communications (enrollment materials, distribution forms, etc.) housed within your 401k software for distribution to your employees. It is recommended that you communicate to your employees any differences in your plan's operation from the software's default federally-compliant operations (for instance, a lower annual contribution limit or IRA rollover restriction).

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