FAQ 280: Eligibility--NRA of 55 amending to age 65--how to preserve NRA of 55 for old participants?


I have a plan that will be amending their normal retirement age from age 55 to age 65. However, the current participants will remain under the old NRA of age 55. Is there a way to keep the old participants at age 55 on ASC and the new participants at age 65 on ASC? Or do we have to just pick one?


This is the reason that ASC makes participants status code "A" when you update a case from one year to the next. An "A" status preserves all of their calculated dates, such as NRA, NRD, Vesting Start date, etc. so that subsequent plan spec changes don't revise their dates. You should be able to change the plan specs for NRA, and it will only change those who are coming into the plan this year. Just be sure that those who should be at 55 have a status code of "A" or are previously terminated.