Message Boards Digest

June 1, 2021

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ac created a topic in Defined Benefit Plans, Including Cash Balance

What to Do with Large Investment Returns in a Cash Balance Plan?

"We are the actuary for a cash balance plan that uses the actual rate of return for plan assets as the annual interest credit. The interest credit percentage is limited to 6%. The plan had an asset return of 21% for the 2020 plan year. As a result, the assets exceed the participant account balances by a considerable amount. Any suggestions on how to use these extra assets for the participants? Can we have an ad-hoc interest credit or pay credit to bring the account balances up to the assets? I want to make sure we do not violate the accrual rules or discrimination testing."

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