New SECURE and CARES Acts amendments implemented changes to how a Solo(k) plan must operate (“defaults”). We have outlined these new operational requirements in two (2) documents: a Changes & Assumptions document and Basic Plan Document (BPD) Amendment.

To ensure your plan’s compliance, you must carefully review these documents to verify that your plan is operating in accordance with these new defaults.

Here’s how:

 Read the defaults in the Changes & Assumptions document, below.

 Determine whether your plan has been operating in accordance with   each of the defaults.

• If operating in accordance: Provident has adopted a Basic Plan Document (BPD) amendment on your behalf, and no action is required on your part. However, you should keep a copy of the BPD in your plan file. Download a copy below.
• If operating differently: Please contact our VIP Services Team at 888-855-9856.