Guest lip Posted April 12, 2009 Posted April 12, 2009 To either meet minimum funding or make FAS look better;can a substantial owner sign something reducing his accrued benefit
Andy the Actuary Posted April 12, 2009 Posted April 12, 2009 To either meet minimum funding or make FAS look better;can a substantial owner sign something reducing his accrued benefit This appears to be acceptable in certain situations only after plan termination where assets are insufficient. Otherwise, no can do. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
ScottR Posted April 16, 2009 Posted April 16, 2009 To either meet minimum funding or make FAS look better;can a substantial owner sign something reducing his accrued benefit This appears to be acceptable in certain situations only after plan termination where assets are insufficient. Otherwise, no can do. Agree. Waivers of benefits already accrued aren't permissible in ongoing plans. Only upon plan termination. ... S
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