RestAssured Posted February 16, 2021 Posted February 16, 2021 I'm sort of having a brain fart.... I have a PS 401(k) plan that was adopted in Sept 2020, effective 1-1-20 for PS portion. There was an employee who terminated in August (ie, prior to adoption of plan). She had over 10 YOS, so she would be in the plan and receive PS, correct? (They are doing New Comp, so she has to receive something in order to pass testing). I think the answer is that she IS in the plan. Thanks for indulging my loss of brain function today.
CuseFan Posted February 16, 2021 Posted February 16, 2021 Rest assured, she is in the plan. Whether she is entitled to an allocation depends on those respective provisions. Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com
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