Cynchbeast Posted August 14, 2017 Share Posted August 14, 2017 Plan is new comp, 3 classes. Adopt Agreement allows allocation for each class to be: i. A percentage of Compensation ii. A fixed dollar amount iii. the greater of i. or ii. Plan design was always intended to be % or $ and plan has always operated with this type of allocation. When preparing PPA restatement effective 02/01/15, we mistakenly checked box i. instead of box iii. This error was missed when doing valuation for PYE 01/31/16 but caught now. Please comment on proposed action of simply documenting error and correcting that page of Adoption Agreement. Link to comment Share on other sites More sharing options...
Belgarath Posted August 15, 2017 Share Posted August 15, 2017 So were the allocations actually affected? What is the "fixed dollar" amount for each group, and does whatever percentage that was used produce a lower or higher result? My initial inclination is that if the results are actually different, then VCP is indicated. If not, I could perhaps be persuaded otherwise. Link to comment Share on other sites More sharing options...
ESOP Guy Posted August 15, 2017 Share Posted August 15, 2017 Isn't this the same question in a different thread? Link to comment Share on other sites More sharing options...
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