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  #21  
Old 05-08-2019, 11:54 AM
murball murball is offline
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Isn't there a regulation that says that minimum participation in a DB plan is age 18 and the minimum for DC plan is age 21?
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  #22  
Old 05-08-2019, 12:03 PM
AllIDoisStudy AllIDoisStudy is offline
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Quote:
Originally Posted by Pride4Pride View Post
I don't believe you can base years of vesting service on participation. You can only exclude years of service prior to the effective date of the plan.
I didn't think it was asking about vesting service? I thought the question was asking about service for calculation of the accrued benefit?
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  #23  
Old 05-08-2019, 12:12 PM
GlacialCici GlacialCici is offline
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Is there an updated PAK yet? Thanks!
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  #24  
Old 05-08-2019, 12:25 PM
lrbenson81 lrbenson81 is offline
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Quote:
Originally Posted by DonaldStewart View Post
Perhaps too early to tell, but with a median & average of 75, would that mean the passing score is higher than 75? That'd make it the highest passing score I think I've seen.

2018 Mean/Median - 72/71 - Passing Score - 68
2017 Mean/Median - 70.8/72 - Passing Score - 70
2016 Mean/Median - 70.5/72 - Passing Score - 61

So it seems to me that the PAK median and mean consists of students who are usually slightly higher than the average, which makes sense, since we're somewhat self-selecting.

Therefore, we can infer that the pass mark most likely will be somewhere between 65-72
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  #25  
Old 05-08-2019, 12:31 PM
maestro803 maestro803 is offline
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anybody remember the question involving fractional rule and a change in benefit formula? I don't think I got it right.
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  #26  
Old 05-08-2019, 12:38 PM
DonaldStewart DonaldStewart is offline
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Perfect, thanks!

Quote:
Originally Posted by lrbenson81 View Post
2018 Mean/Median - 72/71 - Passing Score - 68
2017 Mean/Median - 70.8/72 - Passing Score - 70
2016 Mean/Median - 70.5/72 - Passing Score - 61

So it seems to me that the PAK median and mean consists of students who are usually slightly higher than the average, which makes sense, since we're somewhat self-selecting.

Therefore, we can infer that the pass mark most likely will be somewhere between 65-72
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  #27  
Old 05-08-2019, 12:40 PM
DonaldStewart DonaldStewart is offline
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64 responses? How much does it take to get something statistically significant? 100+?

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Originally Posted by blueconno View Post
We already have over 50 responses, so here's the initial analysis spreadsheet
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  #28  
Old 05-08-2019, 12:42 PM
AllIDoisStudy AllIDoisStudy is offline
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Quote:
Originally Posted by maestro803 View Post
anybody remember the question involving fractional rule and a change in benefit formula? I don't think I got it right.
I think I remember the numbers so I'll try to explain what I got.

I think the point was one of them you had to hold the accrued benefit at the benefit under the old formula (I believe it was $33,333 vs the $30,000 under the new formula). But the later date you calculated you get $50,000 (which is now greater than the old plan formula benefit). So I think the difference was $16,667, or $1,389 monthly.
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  #29  
Old 05-08-2019, 12:50 PM
maestro803 maestro803 is offline
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Thanks, I had a feeling it involved preserving the old formula, but I didn't know the regs basis for that at all.

Quote:
Originally Posted by AllIDoisStudy View Post
I think I remember the numbers so I'll try to explain what I got.

I think the point was one of them you had to hold the accrued benefit at the benefit under the old formula (I believe it was $33,333 vs the $30,000 under the new formula). But the later date you calculated you get $50,000 (which is now greater than the old plan formula benefit). So I think the difference was $16,667, or $1,389 monthly.
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  #30  
Old 05-08-2019, 12:55 PM
lrbenson81 lrbenson81 is offline
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Quote:
Originally Posted by maestro803 View Post
Thanks, I had a feeling it involved preserving the old formula, but I didn't know the regs basis for that at all.

https://www.law.cornell.edu/cfr/text/26/1.411(d)-4
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