37. Separate account for nondeductible voluntary employee contributions

Statement of Requirement: IRC 411(d)(5); Treas. Reg. 1.411(c)-1(b); Rev. Rul. 80-155

Document Provision: _____

Sample Plan Language:

A separate account shall be maintained for prior (or current) nondeductible voluntary employee contributions of each participant. The assets of the plan will be valued annually at fair market value as of the last day of the plan year. On such date, the earnings and losses of the plan attributable to the accumulated nondeductible voluntary contributions will be allocated to each participant's nondeductible voluntary contributions account in the ratio that such account balance bears to all such account balances.