Guest Doug P Posted February 8, 2010 Posted February 8, 2010 If a governmental plan (who currently has 5 year cliff vesting) changes their plan to be a hybrid plan, do they have to change their vesting to a 3 year cliff?
david rigby Posted February 8, 2010 Posted February 8, 2010 Depends on state statute. Governmental plans are exempt from IRC 411, to the extent it meets certain requirements as in effect 09/01/1974. 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.
Guest Doug P Posted February 8, 2010 Posted February 8, 2010 Depends on state statute. Governmental plans are exempt from IRC 411, to the extent it meets certain requirements as in effect 09/01/1974. Thanks, David.
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