Participant Notice
Plan Amendments

            The Board of Trustees recently approved amended plan documents for all of the plans under MSRP administration:  401(k); 401(a) match; 457; and 403(b).  The restated plans are effective January 1, 2012.  The amendments are largely technical in nature, and reflect changes in tax law over the last several years.  These changes expand the definition of hardship to include certain emergencies for a non-dependent primary beneficiary of the participant; permission for a beneficiary to make a direct roll-over to an IRA; adoption of specialized rules for certain participants in military service; and explicit standards for contributing post-employment compensation such as accrued vacation pay.  The amendments also integrate into the plan document various changes adopted since 2002, such as the Roth accounts and provisions relating to the Target Date funds.

            The new plan documents are available on the Plan Descriptions page of this web site.