TPApril Posted November 14, 2020 Posted November 14, 2020 I believe the answer to this situation is no, but thought I'd run this question on here: Background: Medical Group, each doctor has own plan. Staff is in a PEO Plan. All provisions and investment options are similar to this longstanding setup that the doctors prefer, and cross testing is run including all of the above. One individual doctor is asking if she can have a Cash Balance Plan.
C. B. Zeller Posted November 14, 2020 Posted November 14, 2020 No way. DB plans are subject to the minimum participation rules of 401(a)(26). At least 40% of the employees (or 50, if less) have to get a meaningful benefit in the plan. Luke Bailey 1 Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
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