benefitsguru Posted December 12, 2014 Posted December 12, 2014 Can a qualified plan document include an excess benefit plan formula/other language but there also be an accompanying separate excess benefit plan? Assume that benefits will be paid properly with qualfied benefits paid from trust and excess benefits paid from general assets. I've just never heard of this before! Thanks in advance.
david rigby Posted December 12, 2014 Posted December 12, 2014 Not sure I understand the question. If the "accompanying" plan is a SERP, such plan's existence or provisions have no bearing on what the qualified plan provides. And vice versa. Is that what you mean? 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.
jpod Posted December 12, 2014 Posted December 12, 2014 I've seen it done. As long as the drafting is handled VERY carefully, it can work, but i can't think of a good reason to do it.
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