Form 5624 - Employee Benefit Plan Defined Benefit Plans Minimum Vesting Standards (Page 6 of 6) in pdf

VIII. Amendment Affecting Accrued Benefits and Vesting

Plan Reference

Yes No N/A

If the vesting schedule is being amended, is the nonforfeitable percentage of

every participant not less than the percentage figured under the plan before

amendment? [2091]

If the vesting schedule is being amended, does the plan provide that certain

participants may choose the former schedule? [2092]

If the plan is being amended, is each participant’s accrued benefit after the

amendment not less than the accrued benefit before the amendment? [2093]

If the early retirement benefits or other optional retirement benefits are changed

by an amendment, are the benefits with respect to the benefits accrued to the date of

the amendment not reduced for any employee who at any time on or after the

amendment satisfies the pre-amendment conditions for the benefit? [2093]

If “section 411(d)(6) protected benefits” are eliminated by a plan amendment, are

such protected benefits preserved with respect to benefits accrued as of the later of

the adoption or effective date of the amendment? [2093]

Are any restrictions added to previously unrestricted benefits? [2093]

If a plan amendment eliminates a pre-retirement age 70½ distribution option,

does the plan retain the option for employees who reach age 70½ in a calendar year

beginning before 1999? [2094]

(Note: This amendment may not be adopted, and the option may not be eliminated

with respect to benefits already accrued, prior to finalization of the regulations under

section 411(d)(6), on June 5, 1998. See Explanation #9.)

IX. Miscellaneous

Does the plan satisfy the requirement that benefit accruals may not cease or be

reduced because of the attainment of any age? [2097]

If the plan reduces accruals otherwise required by section 411(b)(1)(H)(i) on

account of distributions or actuarial adjustment for delayed payment, does the manner

of reduction satisfy the requirements of the proposed regulations? [2098]

Are “section 411(d)(6) protected benefits” available to employees without regard to

employer consent or discretion? [2099]

Does the plan provide, in the case of an employee (other than a 5-percent owner)

who retires in a calendar year after the calendar year in which the employee attains

age 70½, that the employee’s accrued benefit is actuarially increased from April 1

after the calendar year in which the employee attains age 70½ to the date on which

benefits commence after retirement in an amount sufficient to satisfy section

401(a)(9)? [2088]

Does the plan provide that the actuarial increase under d. must be provided even

during the period that an employee is in suspendible service under section

203(a)(3)(B) of ERISA? [2089]

5624

Form

(Rev. 12-98) (page 6)

Department of the Treasury - Internal Revenue Service

Form 5624 - Employee Benefit Plan Defined Benefit Plans Minimum Vesting Standards Page 6

Related Articles

Related forms

Related Categories