GUST Restatement
As a result of changes to tax law in the United States, employers and retirement plan sponsors are required to complete new Adoption Agreements and restate their prototype qualified plans. In order for plans to maintain their qualified status, they must meet different statutory regulations.
Investopedia Commentary
GUST comes from the combination of: General Agreements on Tariffs and Trade (GATT), the Uniformed Services Employment Rights Act of 1994 (USERRA), the Small Business Job Protection Act of 1996 (SBA-96), and the Taxpayer Relief Act of 1997 (TRA-97).
Related Links
Introductory Tour through Retirement Plans
See also: GATT, IRS, Qualified Retirement Plan, Tariff, Taxes, Trade
Also spelled: GUST