What is the difference between a "New" plan and a "Restated/Amended" plan?
New: A "New" plan is established when an employer has never had a plan in place before. Restatement/Amendment: A "Restatement" is when an employer has an active plan in place currently and needs to add/change something about that document. By restating a document, the system requires that the original effective date be put into the system to bridge the gap from the old document to the new document. The word "Amendment" is used when there is a regulation change and a document needs to be updated. Basically, a document is "restated" when a current document is changed/amended.Find another question