gholtz

Hi all, We have a client implementing a 6-month accrual rule for their Cash Balance plan and would like to have the same 6 month requirement for their Profit Sharing Plan. Is it even possible to have a 6-month elapsed time rule in place of the normal 1000 hours? Haven't seen anything yet on this issue.

Thanks all, appreciate it. This is very helpful!

Agree with C. B. Zeller on the plan document. Our provider also utilizes a box for whether a terminated participant is counted as employed for PS purposes if they terminated on the last day. I'd say, if there's nothing in your document on that, best to count as satisfying the last day condition since they technically were employed on the last day, even if only for a portion of that day. Not so sure about the 5500, but if there's any doubt it's probably best to just count them as active.

@Tom Poje I know it's been 17 years, but this thread is closely related to something I've been researching. Could you please point me in the direction of the regs that contain the safe harbor rules on allocation conditions on a discretionary match?

Hello, new here (to the site and the retirement industry in general). Could anyone please help me understand in what circumstances it is permissible to amend to remove an optional benefit? We have a client who purchased two companies via stock purchase and need to merge both subsidiary plans into theirs (messy, I know). There are partial and installment withdrawals in one of the subsidiaries, but we would like the surviving plan to have lump-sum only (with partial and installment only available for RMDs as is standard). It seems like the Code is pretty clear, but I'm just not understand the regs on this matter. Any help you can provide would be much appreciated!