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Old 09-06-2013, 03:47 PM
TK101709 TK101709 is offline
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Default Plan without a timely certified AFTAP

Takeover Plan with the last timely certified AFTAP being in 2010. With no AFTAP the plan is automatically below the 60% threshold for those years and benefits are frozen.

My question: Assuming the AFTAP is timely certified by 10/1/13 with an AFTAP over 100%, is it possible to grant past service for the years in which the plan was frozen due to the AFTAP issues? If so, document wise, is it just a matter of drafting an amendment that clearly states the credit being given for those years?

Onwer only calendar year plan FYI.
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Old 09-08-2013, 03:46 PM
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Rick_G Rick_G is offline
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This sounds plausible to me - assuming there is no language in the document about accruals lost due to 436(e).
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Old 09-09-2013, 01:28 PM
zeus1233 zeus1233 is offline
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Even then you could amend the plan and provide for a separate benefit increase that replaces the lost benefits (assuming your AFTAP is high enough post-amendment).

Just make sure whatever you do is consistent with the language of the plan document.
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