Guest lip Posted June 13, 2008 Posted June 13, 2008 If you used ind aggregate funding method,would you give those NCs as per participant costs. Or use the increase in the pvab each year?
WDIK Posted June 13, 2008 Posted June 13, 2008 If a CPA is asking for a breakdown for deduction purposes, we typically will provide the percentage breakdown based on the individual normal costs. If the employer or a participant is asking for benefit purposes, we will resist providing an "annual" cost and explain for the umpteenth time that defined benefit plans do not work the same as a 401(k) plan. [The second paragraph rarely satisfies those who ask.] ...but then again, What Do I Know?
Kimberly S Posted June 13, 2008 Posted June 13, 2008 If the employer or a participant is asking for benefit purposes, we will resist providing an "annual" cost and explain for the umpteenth time that defined benefit plans do not work the same as a 401(k) plan.[The second paragraph rarely satisfies those who ask.] That would be the same group who wants to know how much money they personally have in the plan each year.
david rigby Posted June 13, 2008 Posted June 13, 2008 Duplicate question. http://benefitslink.com/boards/index.php?showtopic=38939 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.
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