Q. A state's law requires governmental 457 plans to obtain a private letter ruling (PLR) from the IRS or have a document that relies upon one.ÊIs there any way to obtain a listing of vendors that have such a document?
A. At this time there is only the method of applying for a PLR. Remember that the employer that submits for a PLR actually owns the PLR and receives the actual letter, but the state may accept the plan document.
Depending on the state, there may be other customized documents that need to be submitted to the state as well. For example, in New Jersey, a "Joinder Agreement," which is the name of the SRA for New Jersey municipalities. There are certain TPAs that have New Jersey documents, but one would have to check with them.