Updating the 403(b) Plan Document

Q. If a 403(b) plan still has vendors holding money but does not have any current contributions, do they still need to update their 403(b) document as a part of the new restated plan document requirement? 

A. Yes, all employers must restate their plans back to Jan.1, 2010 in order for the employer to have reliance — even if the plan is frozen.