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Target Benefit Plan to Cross-Tested


Guest KimAnn

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I have a prospective client with a current Target Benefit who wants to amend to a Cross-Tested plan.

Can he just amend, or does the Target Benefit need to be terminated, resulting in 100% vesting for all employees prior to setting up the Cross-Tested?

Is it possible to suspend contributions to a Target Benefit (with proper notice to employees) and leave it open but in frozen status, while operating the Cross-tested plan?

Basically, is there any way to avoid the full vesting requirement and still set up the Cross-tested plan?

Thanks

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