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Home My WebLink About871778.tiff I)'y'ar latent u( Iho Tieasur y ..- hitrxnal flevenua Service 1100 COMMERCE ST . CODE 431 In reply refer to : 75160054 DALLAS TX 75242 JUNE 10 , 1981 LTR 835AU 84-6000813P 0000 74 001 00443 WELD COUNTY PO BO): 758 GREELEY CO 80631 _ District Office Code and Case Serial Number : 847020022 EP Name of Plan: Weld County Retirement Plan Application Form : 5300 Date Amended : 102886 Employer Identification Number : 84-6000813 Plan Number : 001 File Number : 840001884 Dear Applicant : _.. ad on the information supplied , we have made a favorable _termination on your application identified above . Please keep this letter in your permanent records . Continued qualification of the plan will depend on :.ts effect in operation under its present form . (See section 1 . 401- 1 ( b ) ( 3 ) of the Income Tax Regulations . ) The status of the plan in operation will be reviewed periodically . The enclosed document describes some events that could occur after you receive this letter that would automatically nullify it without specific notice from us . The document also explains how operation of the plan may affect a favorable determination letter , and contains information about filing requirements . h This letter relates only to the status of your plan under the Internal Revenue Code . It is not a determination regarding the effect of other Federal or local statutes . r r 871 778 PEOOI 6d mCE T,.JC L` y!,u tweet of (tie Treasury Internal Revenue Service 75160054 • JUNE 10 , 1987 LTR 835AU 84-6000813P 0000 74 001 00444 WELD COUNTY PO BOX 758 GREELEY CO 80631 This determination expresses an opinion on whether the amendment( s ) , in and of itself (themselves ) , affect( s ) the continued qualified status of the plan under Code section 401 and the exempt status of the related trust under section 501 (a) . This determination should not be construed as an opinion on the qualification of the plan as a whole and the exempt status of the related trust as a whole . Your plan does not consider total compensation for purposes of figuring benefits . The provision may, in operation, discriminate in favor of employees who are stockholders , officers , or highly compensated . If this discrimination occurs , your plan will not remain cualified . ( See Rev . Rul . 69-503 , 1969-2 C . B . 94 . ) TnLs letter does not express an opinion as to whether the form of the . _:.n provides that alternative forms of benefit are made available in a canner that precludes employer discretion . See proposed regulations under 1 . 411 ( d ) -4 . If you have any questions , please contact E P Tech Assistor at 214-767- 1204 . Y r,r�r Si eteYy-yozr_z. ' Glenn Cagle District Director Enclosures : fi Publication 794 OPWBP 515 ,e yf� �}�} Department of the Treasury ntroduction ion.The letter will cease to apply when the de- f v/4 Internal Revenue Service This publication explains the effect of the Tax feet in coverage arises. Reform Act of 1986.upon your determination A plan is considered as meeting these re- ' letter, points out some operational features that quirements for the whole plan year if it meets Publication 794 may affect the qualified status of your employee the requirements on at least one day of each benefit plan, and provides information on the quarter of that year. (Rev. November 1986) reporting requirements for your plan. Allocation of forfeitures. If employee turnover results in the allocation of forfeitures principally tFavorable Tax Reform Act of 1986 s edoff ampers, shareholders,alfavor and hdetermination compen- sated employees,a favorable determination let- The following paragraph describes the basis ter will cease to apply. on which your determination letter was issued. e#ermination It is an integral part of your letter.Reporting Requirements The provisions of Notice 86-13 apply to.your Most plan administrators or employers who plan:This notice states that determination let- maintain an employee benefit plan must file an Letter ters issued to you consider only the law in ef- annual return/report with the Internal Revenue �` feet before the passage of the Tax Reform Act. Service. The following forms should be used for of 1986. However, any qualification require- this purpose: ments as changed by the new law that have been considered after this notice was issued Form 5500EZ—generally for a"One-Participant will be specifically stated on the determination Plan," which is a plan that covers only: (1)an letter. individual, or an individual and his or her spouse who wholly own a business, whether in- corporated or not;or(2) partner(s)in a partner- How to Use a Favorable ship or the partner(s)and the partner's spouse. If Form 5500EZ cannot be used, the one-par- Determination Letter ticipant plan should use Form 5500-C or A favorable determination letter provides the 5500-R, whichever applies. employer with a basis for deducting contribu- Form 5500—for a pension benefit plan with 100 • tions to an employee benefit plan. Whether a or more participants at the beginning of the plan qualifies is determined from the informa- plan year. tion in the written plan document and the sup- Form 5500-C—for a pension benefit plan with porting information submitted by the employer. more than one but fewer than 100 participants A favorable determination letter indicates that the terms of the plan conform to the require- at the beginning of the plan year. ments of section 401(a) of the Internal Revenue Form 5500-R—for a pension benefit plan with Code. more than one but fewer than 100 participants at the start of a plan year for which Form Amendments to the plan. A favorable determi- 5500-C is not filed. nation letter may no longer apply if there is a Note. Keogh(H.R. 10) plans are required to change in a statute, regulation, or revenue rul- file an annual return even if the only partici- ing applicable to the qualification of the plan. pants are owner-employees. The term "owner- However, the determination letter will continue employee" includes a partner who owns more to apply for years before the effective date of than 10% interest in either the capital or profits the statute, regulation, or revenue ruling. If the of the partnership.This applies to both defined letter no longer applies to the plan, the plan contribution and defined benefit plans. must be amended to comply with the new re- When to file. Forms 5500 and 5500EZ must be quirements to maintain its qualified status. filed annually. Form 5500-C must be filed for(i) Generally, if a regulation changes, the the initial plan year, (ii)the year a final re- amendment must be adopted by the end of the turn/report would be filed, and (iii) at three- - _ first plan year beginning after the adoption date year intervals. Form 5500-R must be filed in the of the regulation. Generally, if a revenue ruling years when 5500—C is not filed. However, changes, the amendment must be adopted by 5500-C will be accepted in place of 5500-R. - - the end of the first plan year beginning after the For more information,see Publication 1048, HI- * publication date of the revenue ruling. The ing Requirements for Employee Benefit Plans. amendment must be effective not later than the Disclosure. The Internal Revenue Service will first day of the first plan year beginning after process the returns and provide the Depart- - — the revenue ruling is published. However, if cer- ment of Labor and the Pension Benefit Guar- .. _ - tain requirements are satisfied, the amendment anty Corporation with the necessary _ - may be adopted retroactively after the close of information and copies of the returns on micro- == that year. For further infownation on retroactive film for disclosure purposes. amendments, see Rev. Rul. 82-66, 1982-1 --- _ C.B.61. Plan Must Qualify ___ in Operation Generally, a plan qualifies in operation if it is maintained according to the terms on which the ___ - favorable determination letter was issued. How- - _ __ ever, conditions may develop in operation that -- - do not follow the written plan document, and they may jeopardize the plan's qualification. Ex- amples of common operational features that ad- versely affect a favorable determination are: Not meeting coverage requirements. If a plan satisfies the coverage requirements of section 410,when the favorable determination letter is received, by meeting either the percentage test under section 410(b)(1)(A)or the classification test under section 410(b)(1xe), but the plan fails to meet the coverage requirements in op- eration, the letter will no longer apply to the d u 5.GP.O.: 1987 -181-457/62256 U.S. Department of Labor Office of Pension and Welfare Benefit Programs Washington, D . 20210 / To: Administrators of Employee Pension and Welfare Benefit Plans The Employee Retirement Income Security Act of 1974 (ERISA) requires administrators of employee pension benefit plans ( pension, profit sharing and other plans that provide retire- ment income to employees or result in a deferral of income by employees for periods extending to the termination of covered employment or beyond) , and employee welfare benefit plans (medical , surgical , hospital , sickness , accident , disability, death , unemployment , vacation, training, scholarship funds , prepaid legal services , etc. ) to meet certain reporting and disclosure requirements . Within 120 days after a new plan comes into existence , plan administrators are to file a summary plan description (SPD) with the Secretary of Labor. A summary plan description also must be provided to each plan participant and beneficiary within 120 days after the establishment of a plan. However, certain fully insured welfare plans with fewer than 100 participants are e. ,mpt from the requirement to file a summary plan description with the Secretary. For further information about the summary plan description and other reporting and disclosure requirements of ERISA, contact the nearest Area Office of the Labor Department ' s Office of Pension and Welfare Benefit Programs (see list on reverse side) . Alan D. Lebowitz Acting Administrator Office of Pension and Welfare Benefit Programs • OPWBP 515 (4/85) . U.S . DEPARTMENT OF LABOR Office of Pension and Welfare Benefit Programs Area Offices ATLANTA KANSAS CITY Room 205 Room 2200 1371 Peachtree St . , N.E. Federal Office Bldg . Atlanta, GA 30367 911 Walnut St . ( 404) 881-4090 Kansas City, MO 64106 ( 816 ) 374-5131 BOSTON LOS ANGELES Room 211 7th Floor New Studio Bldg. , 3660 Wilshire Blvd . 110 Tremont St . Los Angeles , CA 90010 Boston, MA 02108 ( 305 ) 651-6464 ( 617) 223-6734 CHICAGO NEW YORK Suite 1201A Room 537 175 W. Jackson Blvd. 26 Federal Plaza Chicago, IL 60604 New York, NY 10278 ( 312) 353-7264 ( 212 ) 264-4830 DALLAS PHILADELPHIA Federal Office Bldg . Room 7401 525 Griffin St . James A. Byrne Courthouse Dallas , TX 75202 601 Market St . ( 214) 767-6831 Philadelphia, PA 19104 ( 215 ) 597-4960 DETROIT SAN FRANCISCO Room 619 Room 317 Federal Bldg. & U.S. Courthouse 211 Main Street 231 W. Lafayette St . San Francisco, CA 94105 Detroit, MI 48226 (415 ) 974-0544 ( 313) 226-7450 e USG P0 1586-491-481/54374 Hello