Something to be thankful for, I guess, would be the new IRS guidance on PEO retirement plans: Rev. Proc. 2003-86. (via Benefitslink.com). S. Derrin Watson, Esq. has already weighed in on the guidance in this: "First Look at Rev. Proc. 2003-86." The new Revenue Procedure clears up some of the unanswered questions of the previously issued Rev. Proc. 2002-21 (via Mr. Watson's website) which mandated that certain actions be taken with respect to PEO retirement plans prior to the end of 2003.