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Muslim Client Has Issue with Hypothetical Fixed Interest Rate Under CB Plan
BenefitsLink Message BoardsLink to more items from this source
Oct. 6, 2021

"A group of physicians is considering a cross-tested combination, 401(k) and cash balance. One owner-doctor is Muslim and is questioning the hypothetical interest on the allocation when expressed as a fixed-rate. He is fine with the 401(k) assets being market-driven, but has concerns about the cash balance allocation. [1] Anyone ever handle anything similar? [2] Can the hypothetical interest be 0 for his allocation class or is that a reduction? [3] Is there a better way to explain the interest part that may avoid his objection?"

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