R. Butler Posted October 3, 2008 Posted October 3, 2008 We have taken over 2 plans with prevailing wage provisions recently. Both plans use a Corbel prototype. Both plans require 21 & 1 for entry to nonelective profit sharing. The prevailing wage provisions are generally covered under the nonelective profit sharing in the Corbel prortotype. Both plans in practice are allowing immediate entry for previaling wage. It seems to me that in the Corbel prototpye that the document should provide for immediate entryin the nonelective profit sharing. I've looked through the underlying prototype plan & trust & I don't see anything in there that allows the plan to have different entry requirements for the profit sharing & the prevailing wage. If someone familiar with the Corbel prototpye could provide guidance I would appreciate it. Thanks in advance.
R. Butler Posted October 6, 2008 Author Posted October 6, 2008 No need to reply. I found where the Adoption Agreement does provide for immediate entry for prevailing wage.
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