Feel free to point me to a different group if this isn't the right place for this...
I work for an organization where we implemented a policy to increase the employer contribution to people's 401K the longer they are at the org. We're trying to change our 401K to our PEO's 401K, and they said they can't implement this policy BUT they can do "a cross-tested PS formula. This wouldn’t exactly be a tiered option based on years of service, and the gateway minimums for a cross-tested PS formula would still apply. This is the closest option available."
I have no idea what this means, or how I can use it for longevity. All my googling implies that cross-tested plans *may* have to do with people's ages, but also may not?? I can't find a simple definition of what this is, and how one can use it (and can I use it for our longevity policy)?
