changing a group in new comp plan

[wsp]

plan year end is 4/30/2005 and the plan has last day and 1000 hour rule. Can we change the groupings or is it too late?

Currently plan groupings are "HCE" and "Non-HCE". We want them to read "President", "Vice Presidents", "Key Employees", and "all others". The only individuals who would be moving groups are HCE's.

Does moving HCE's to a lower contribution class constitute a reduction in benefits and thus disallow us to make this change? Ideally we'd like the "Vice Prsidents" to receive the same percentage as the "all others" and the "Key Employees" to receive a zero benefit.

[Tom Poje]

since plan has a last day rule, technically no one has accrued anything, and so the general rule of thumb has been you can amend the plan before the end of the year.

of course there is always the possibility the plan also says no hours if one dies, disabled, normal retirement' and if someone indeed has hit one of those condition you would be out of luck.