Jakyasar Posted February 20 Posted February 20 Looking at a combo proposal. DC has age 65 for NRA which I do not like as it should always have "and 5 YOP", my personal opinion. Is it a BRF issue adding "and 5YOP" now? According to the census provided, none of the employees would be affected by this change especially related vesting. Thanks
david rigby Posted February 20 Posted February 20 Presumably such change would apply to new participants/employees only? I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
CuseFan Posted February 20 Posted February 20 You can only change for new participants or for new contributions if you want to apply to everyone, so you're looking at separate tracking in some fashion or another. Unless the employer often hires people over the age of 60, which you said there are none currently, what's the attraction for 65 & 5? Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com
Jakyasar Posted February 21 Author Posted February 21 New employees only, everyone in there is under age 55 so none will be affected. Attraction for 65/5, I like all necessary provisions to match for combo designs, reduces things to check and test and miss. Thank you both for your comments.
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