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Class-Allocated Profit Sharing with Last Day of Year Employment Condition
BenefitsLink Message BoardsLink to more items from this source
June 30, 2021

"A plan is class-allocated for 2020 and has allocation conditions (1000 hours and last day of the year employment) for profit sharing. That obviously means someone who did not meet the allocation conditions will not receive profit sharing contribution. But is the reverse true? Does someone who did meet the allocation conditions have to receive a profit sharing contribution?"

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