During law school, I had the pleasure of being taught by Bernie Corr. Corr was one of the most entertaining law school professors with his humor and bluntness. I had the pleasure of taking Corr’s Bankruptcy and Advance Bankruptcy courses. Corr said that one of the reasons that the bankruptcy law is changed is to give bankruptcy attorneys some work. So I jokingly say that the whole purpose of the retirement plan restatement process is to feed ERISA attorneys, but it is a joke. The Internal Revenue Service is in charge of creating the restatement process and they have decried that another one has begun and will end on July 31, 2020, So this article is all about the restatement process that will likely require you to restate your plan.
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