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20 Dec 2019
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Top heavy defined benefit plans must meet the 3 year or 6 year graded schedule for dcp. Statutory hybrid must provide full vesting no more than 3 years. Must be 100% vested once credited with no more than 3 years. Must be 100% credited once 6 years of service. Regardless of the vesting schedule prescribed by the plan, the plan must provide that an employee is 100% vested at normal retirement age. Employee contributions to the plan made by employee must be vested at all times. Db vesting schedule must satisfy legal req of one of two minimum: 5 year: employee must be vested 100% once he is credit with no more than 5 years of service. Prior to completing 5th year, vesting % may be any % including zero. Top heavy defined benefit plans must meet 3 or 6 year graded schedule. Vesting under statutory hybrid must satisfy 3 year schedule.

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