RetirementGal86 Posted December 12, 2024 Posted December 12, 2024 Is it possible to have two separate vesting schedules in one plan? I have a client that is considering removing SH, however they have a union group entitled to a certain match %. Due to permissive aggregation, we believe the union group can continue their same matching formula and vesting at 100%. However, for anyone nonunion moving to a discretionary match, is it possible to have a separate vesting schedule?
Bri Posted December 13, 2024 Posted December 13, 2024 Generally each vesting schedule is a benefit, right, or feature that would be subject to coverage testing. So you may have it, if you pass. (And consider how union employees typically are considered in coverage testing) RetirementGal86 1
CuseFan Posted December 13, 2024 Posted December 13, 2024 18 hours ago, RetirementGal86 said: permissive aggregation, we believe the union group Mandatory disaggregation, so having separate vesting schedules for union/non-union should not present any BRF issues. RetirementGal86 1 Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com
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