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Showing results for tags 'fixing plan defects'.
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We set up a traditional DB plan--not cash balance-- for a restaurant with 50 employees. We excluded bartenders and service people while covering the chefs, kitchen and dish washers and the vice-presiident of the business. Though the plan satisfies 70% coverage RPT and initially met the 40% participation rule, this year the minimum participant count is too low--39.2%. I am unclear how to fix this at minimum cost to client. Can I just cover 1-2 members of one of the excluded groups. Has anyone had this sort of problem and how was it fixed. Appreciate any thoughts on the subject.