Changes to Years of Service Requirements

Previously the Custom Retirement Plan Editor allowed for separate years-of-service(YOS) requirements for different employer contribution methods. This included:

1.Percent Matching,

2.Percent of Salary,

3.Profit Sharing, and

4.Dollar Contribution.

These have been removed, and in their place is one data entry value for plan participation (see the Years of Service Required for Participation in the Account Configuration tab).

Notes:If the retirement plan was configured with one or more of the deprecated YOS requirements, a warning message will appear a the top of the Custom Retirement Plan Editor. This message is only displayed if the YOS requirements for the employer contribution exceeds the YOS requirement for participation.
A similar message will also displayed in the Quick Gap  and Gap Analysis calculators when a Custom Retirement Plan has been selected with the same YOS requirements.
Even though the plan has just been loaded and no modifications have been made, the Save button on the top-left is enabled. Click on the Save button to update the plan. The message will no longer be displayed.