I am considering amending a plan's NRA from 60 to 62. There are two participants in the plan. Both are at the Hi3 comp 415 limit for both Accrued and Projected benefits. Is it possible to actuarially increase above the Hi3 comp limit as long as I don't exceed the 415 dollar limit?? Thanks.

No. But it does increase for the 415 CPI increases after termination of employment.

if the particpants are already at their 415 limits and i change NRA from 60 to 62, how do i adjust the benefits without exceeding 415??

You cannot (why in the world do you want to change the NRA???).

You can only do one of two things. You can begin paying them out at 60 or you can adopt suspension language so that they forfeit the actuarial increases. Anything else is a Catch-22 that disqualifies the plan.

I'm trying to reduce the contribution. Neither particpant is at NRA, they are both a few years away. I've changed my assumptions, but still need to go lower.

What funding method are you using?

Another rule of thumb: if you can hold your board of directors meeting in your bathtub, you don't have a problem.

I'm using individual aggregate and yes, since it's a husband and wife I'm not overly concerned. Thanks.