ERISAQuestions1234 Posted February 13, 2020 Share Posted February 13, 2020 I can't find anything that explicitly states you can do this but I presume the 50% QPSA is the floor and raising it to a 100% QPSA is not an issue via an amendment to the DB plan. Thanks for any info you can provide. Link to comment Share on other sites More sharing options...
david rigby Posted February 13, 2020 Share Posted February 13, 2020 As far as I know, there is no prohibition to being more generous than the statutory minimum. However, I see a couple of considerations: - Could this proposed amendment be considered discriminatory? - Would the sponsor want to improve the QPSA for all potential deaths? ie, distinguish between the death of an active participant vs. a VT participant? I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice. Link to comment Share on other sites More sharing options...
ERISAQuestions1234 Posted February 18, 2020 Author Share Posted February 18, 2020 Thanks you David for responding to my question. I don't anticipate the amendment would be discriminatory since it is coming from a well funded multi-employer plan that is making the change for all current and future participants (and its not aimed or created based on the medical condition of a particular individual). Link to comment Share on other sites More sharing options...
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