12:00 PM (ET)
Speaker: S. Derrin Watson, J.D., APM
An important section of any plan document is the section dealing with distribution options. Frequently, an employer wishes to add distribution options. That is fine. But sometimes, an employer needs or wants to take them away. And this is where the anti-cutback rule takes a hand. When can a plan move or modify existing distribution options? If it is protected, can the plan be changed going forward? If so, is there a problem with benefits, rights and features? This web seminar examines this difficult, technical issue and the relating nondiscrimination testing concerns.
- What is a protected benefit?
- The three protections for vesting
- Exceptions to the protected benefit rules
- Extent of the protection
- Limiting protected options
- Effect on benefits, rights, features
- Mechanics of testing benefits, rights, and features
- Optional approaches and their limitations
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