Exhibit 5.2
INTERNAL REVENUE SERVICE DEPARTMENT OF THE TREASURY
Plan Description: Washington, DC 20224
Prototype Standardized Profit
Sharing Plan with CODA Person to Contact:
FFN: 50216521902-001 Ms. Arrington
Case: 9301881 EIN: 23-1938833 Telephone No: (202) 622-8173
BPD: 02 Plan: 001 Refer Reply to: E:EP:Q:ICU
Letter Serial No: 02460886 Date: 02/08/93
Dauphin Deposit Bank & Trust Co.
Bank of Pennsylvania
213 Market Street
Harrisburg, PA 17105
Dear Applicant:
In our opinion, the amendment to the form of the plan
identified above does not in and of itself adversely affect the
plan's acceptability under section 401 of the Internal Revenue
Code. This opinion relates only to the amendment to the form of
the plan. It is not an opinion as to the acceptability of any
other amendment or of the form of the plan as a whole, or as to
the effect of other Federal or local statutes.
You must furnish a copy of this letter to each employer who
adopts this plan. You are also required to send a copy of the
approved form of the plan, any approved amendments and related
documents to each Key District Director of Internal Revenue
Service in whose jurisdiction there are adopting employers.
Our opinion on the acceptability of the form of the plan is
not a ruling or determination as to whether an employer's plan
qualifies under Code Section 401(a). An employer who adopts
this plan will be considered to have a plan qualified and Code
section 401(a) provided all the terms of the plan are followed,
and the eligibility requirements and contribution benefit
provisions are not more favorable for highly compensated
employees than for other employees. Except as stated below, the
Key District Director will not issue a determination letter with
regard to this plan.
Our opinion does not apply to the form of the plan for
purposes of Code section 401(a)(16) if: (1) an employer ever
maintained another qualified plan for one or more employees who
are covered by this plan, other than a specific paired plan
within the meaning of section 7 of Rev. Proc. 89-9, 1989-1 C.B.
780; or (2) after December 31, 1985, the employer maintains a
welfare benefit fund defined in Code section 419(e), which
provides post-retirement medical benefits allocated to separate
accounts for key employees as defined in Code section
419A(d)(3).
An employer that has adopted a standardized plan may not
rely on this opinion letter with respect to: (1) whether an
amendment or series of amendments to the plan satisfies the
nondiscrimination requirements of section 1.401(a)(4)-5(a) of
the regulations, except with respect to plan amendments granting
past service that meet the safe harbor described in
section 1.401(a)(4)-5(a)(5) and are not part of a pattern of
amendments that significantly discriminates in favor of high
compensated employees; or (2) whether the plan satisfies the
effective availability requirement of section 1.401(a)(4)-4(a)
of the regulations with respect to any benefit, right or
feature.
An employer that has adopted a standardized plan as an
amendment to a plan other than a standardized plan may not rely
upon this opinion letter with respect to whether a benefit,
right or other feature that is prospectively eliminated
satisfies the current availability requirements of section
1.401(a)-4 of the regulations.
The employer may request a determination (1) as to whether
the plan, considered with all related qualified plans and, as
appropriate, welfare benefit funds, satisfies the requirements
of Code section 401(a)(16) as to limitations on benefits and
contributions in Code section 415; (2) regarding the
nondiscriminatory effect of grants of past service; and (3) with
respect to whether a prospectively eliminated benefit, right or
feature satisfies the current availability requirements.
Our opinion does not apply to the form of the plan for
purposes of section 401(a) of the Code unless the terms of the
plan as adopted or amended, that pertain to the requirements of
section 401(a)(4), 401(a)(5), 401(a)(17), 401(l), 410(b) or
414(s) of the Code, as amended by the Tax Reform Act of 1986 or
subsequent legislation, (a) are made effective retroactively to
the first day of the first plan year beginning after
December 31, 1988 (or such other date on which the requirements
first became effective with respect to this plan); or (b) are
made effective no later than the first day in which the employer
is no long er entitled, under regulations, to rely on a
reasonable, good faith interpretation of the requirements, and
the prior provisions of the plan constitute such an
interpretation.
This letter with respect to the amendment to the form of
the plan does not affect the applicability to the plan of the
continued, interim and extended reliance provisions of
sections 13 and 17.03 of Rev. Proc. 89-9, 1989-1 C.B. 780. The
applicability of such provisions may be determined by reference
to the initial opinion letter issued with respect to the plan.
If you, the sponsoring organization, have any questions
concerning the IRS processing of this case, please call the
above telephone number. This number is only for use of the
sponsoring organization. Individual participants and/or
adopting employers with questions concerning the plan should
contact the sponsoring organization. The plan's adoption
agreement must include the sponsoring organization's address and
telephone number for inquiries by adopting employers.
If you write to the IRS regarding this plan, please provide
your telephone number and the most convenient time for us to
call in case we need more information. Whether you call or
write, please refer to the Letter Serial Number and File folder
Number showing the heading of this letter.
You should keep this letter as a permanent record. Please
notify us if you modify or discontinue sponsorship of this plan.
Sincerely yours,
/s/
Chief, Employee Plans
Qualifications Branch
