In the SPD of a cross-tested plan (several different profit sharing co

[k man]

I have a 401(k) Profit Sharing Plan for a law firm that is cross-tested and provides for several different profit sharing contribution percentages (discretionary) for different classifications of attorneys and partners. is it necessary to list the allocation percentages in the SPD or omit that information? the reason I dont want to include the percentages is for confidentiality (the partners dont want each other to know how much each other is getting).

[actuarysmith]

Our firm adminsters 100's of cross-tested plans and we do not put allocaton percentages in the SPD's. However, I should also state that none of our plans have "hard-coded" percentages in the plan documents either. (These have been filed and approved by the IRS).

Unless you have set up the "old" style cross-tested plan where you specify exact percentages, I don't see why you need to address the issue in the SPD.

Our SPD's do state the definitions of the different allocation group.