The plan is intended as a sample, and not as a document that can be used, without modification, as your plan document. The regulations governing profit-sharing plans are complex; it is essential that you consult with an appropriate professional when developing a plan.
File Description: The file contains a 23-page document in rich text format (RTF) that is suitable for use with most word processing programs used in the Windows environment.
Special Features: The sample plan illustrates the essential elements of a profit-sharing plan, including complete sections on:
- purpose and definitions
- service credit and participation
- contributions by employer and members
- individual accounts and allocations, including allocation of employer's contributions, gains and losses, forfeitures, and notification to members
- retirement benefit
- death benefit
- disability benefit
- termination of employment and forfeitures
- distribution notices and methods of payment
- special governmental requirements
- administration
- establishment of trust fund
- right to amend
- withdrawal and termination, including transfers of plan assets and plan mergers, plan termination, suspension and discontinuance, and liquidation
- general provisions, including nonguarantee of employment, manner of payment, nonalienation of benefits, amounts returnable to the employer, and governing law
