Toy Cannon

This would have been meant for one employee who wanted to retire early, but actually not draw on their pension until NRA. Out of curiosity, how would this be different than companies giving an individual a "Golden Handshake?." Is it because those occur outside of a formal retirement plan?

Thank you so much. Exactly the information I was looking for.

Under a defined benefit plan (pension), are there circumstances under which a non-profit employer may credit an Highly Compensated Employee (HCE) years of service toward the pension benefit? For example, having reached 33 years of service, can they credit 7 YOS so when the employee reaches normal retirement age they receive the same amount they would have if they had worked the 7 years (excluding potential raises). The reasoning would be it saving the company money by taking the higher salary off the books.