metsfan026 Posted September 10, 2021 Share Posted September 10, 2021 Getting questioned on the setup, so I wanted to make sure there wasn't an issue. Client wants to set it up as 500 for a Year ofAccrual Service (so they are eligible to receive a contribution) but 1,000 hours for a Year of Vesting Service. Cash Balance Plan. Entry is going to be 21 with 3 months of service. Thanks in advance everyone! Link to comment Share on other sites More sharing options...
Bri Posted September 10, 2021 Share Posted September 10, 2021 Legally fine. Any "issue" is HR's problem 😁 Luke Bailey 1 Link to comment Share on other sites More sharing options...
CuseFan Posted September 10, 2021 Share Posted September 10, 2021 seconded Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com Link to comment Share on other sites More sharing options...
Mike Preston Posted September 10, 2021 Share Posted September 10, 2021 Play close attention to top heavy benefits. Link to comment Share on other sites More sharing options...
metsfan026 Posted September 12, 2021 Author Share Posted September 12, 2021 On 9/10/2021 at 4:03 PM, Mike Preston said: Play close attention to top heavy benefits. They are doing 5% into the Profit Sharing Plan, so we are 100% covered there. What's then the minimum for the Cash Balance? Link to comment Share on other sites More sharing options...
Mike Preston Posted September 12, 2021 Share Posted September 12, 2021 Whatever satisfies 401a26. Link to comment Share on other sites More sharing options...
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