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What are employer/employee rights when government plan is over-funded?


Guest kredlin

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Guest kredlin

If a government plan is over-funded, do the employers and/or employees have any right to the excess contributions?

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An actuarially calculated "excess" belongs to the governmental sponsor. The sponsor can use the money to increase benefits or help defray the cost of future funding. The use of the "excess" is at the sole discretion of the governmental unit unless the state retirement statute states otherwise.

Best wishes,

Joel L. Frank

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