Kiley
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My understanding is that partner's earned income is deemed to have all been earned on 12/31/20. If I am understanding your conclusion, you would say 237,500 is the correct number. Is that right? I did search the ERISA Outline book yet unable to locate answers. Thank you.
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Initial plan year defined in document to be 3/1/20 to 12/31/20. Calendar plan year. Partner's earned income is determined to be 300,000. Is the pro-rata to be: 300,000 * 10/12 = 250,000 or 285,000 * 10/12 = 237,500 Thank you.