Elapsed Time instead of Hours for Profit Sharing Allocation Conditions

Hi all,

We have a client implementing a 6-month accrual rule for their Cash Balance plan and would like to have the same 6 month requirement for their Profit Sharing Plan. Is it even possible to have a 6-month elapsed time rule in place of the normal 1000 hours? Haven't seen anything yet on this issue.

Is it an option do that in your document software?

Yes. You can use elapsed time.

I think the more important question is do you have to follow the service spanning rules for this allocation condition? 

If so, this will be a major pain.  The service spanning rule is hard enough with vesting and eligibility.    I would hate to have to review this every year for allocations unless this is a pretty small group.  

I have never looked into the question does the service spanning rule applies or not to this but I would figure it out before you do the first allocation.