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Showing content with the highest reputation on 02/09/2017 in all forums
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Company sold division - year end profit share question
david rigby and one other reacted to ESOP Guy for a topic
Read the definition of early and normal retirement in the document it will answer this question. If it is like most plans I see the definition will be ANY termination after being a given age and/or service. Rarely does it define it any other way. So my guess (and it is a guess at this point) is you will find upon careful reading of the document that they did retire.2 points -
Have you considered negotiating a contract modification? The company I work for (also in the group annuity plan business) would rather change (older) contracts than lose a client.1 point
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LLC Taxed as Corporation May Provide ISOs?
Chaz reacted to mariemonroe for a topic
See reg 1.421-1(i)(1) - the term "corporation" includes a LLC that's treated as a corporation for all tax purposes.1 point -
Sometimes people get this confused with crediting prior service for VESTING purposes. Perfectly ok to exclude service prior to establishment of the plan for VESTING. Not for eligibility, as WCC mentions. You might want to check your document 'cause I suspect that the exclusion for prior service may be for vesting.1 point
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From the EOB: All service with the employer must be credited, even service before the plan is established, unless disregarded under the break in service rules See IRC §410(a)(5)(A) service for eligibility purposes cannot be excluded unless under the above referenced break in service rules1 point
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