TSC Year-End Valuation Report Changes
We’ve made a few changes to our Year-End Valuation Reports in 2019.
The Compliance Summary replaces the Executive Summary. The familiar “Testing Summary” and “Action Summary” sections are now enhanced with a “Suggestions to Consider” section that lists any potential plan design changes and/or operational improvements to consider. We encourage you to review the suggestions and contact us to discuss further.
The Compliance Overview report replaces the Valuation Cover Letter. This report provides important information about the plan for the year and is a good report to review each year. Additionally, the overview will be a helpful report for later reference should the plan be selected for audit by the IRS or examination by the DOL.
Together, the Compliance Summary and Compliance Overview cover the most significant compliance matters for your plan. We hope you like the improvements!
Matthew Slyter, Vice President, Operations