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Guest Nautical
Posted

What are the implications if we reduced a participants DB (employer funds only) single life pension annuity benefit in order for a participant to qualify for state assistance? This is the participant's request. This should be a good conversational topic for today.

Posted

You want to reduce a payment by a plan so the taxpayers can pay some/more? (Public policy be damned?)

Is this in-pay status? If so, the "implication" is (likely) that the plan administrator will be in violation of the terms of the plan document.

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

Posted

I agree Pax. Why would the PA want to do something that could get them in trouble? Can't the participant figure out another way to scam the system and get the taxpayers to support them?

JanetM CPA, MBA

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