AimPoint Pension
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Loan & Distribution Specialist AimPoint Pension
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Bates & Company, Inc.
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Compass
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Regional Vice President of Sales The Retirement Plan Company
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Using In-Service Retirement for Employee Retention
Retirement Town Hall Sept. 26, 2012 "Plan sponsors need to be aware that providing in-service subsidized retirement benefits will generally increase the ongoing cost of the plan. Specifically, the plan amendment will most likely increase the minimum required contribution under IRC Section 430 and will most likely increase net periodic pension expense.... However, depending on the actuarial assumptions used, allowing participants to elect to receive full normal retirement benefits after attaining NRA may not result in an increase in the plan's funding target.... There is some question as to whether fully subsidized early retirement benefits can be paid to in-service retirees." |
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