With the new regs out - the retirement age for plans should be 62 or 65. I have a 412(e) plan with retirement age of 60.
I need to change it to 62. Can you leave the level premiums of the life insurance alone and just adjust the premiums for the annuity contracts to reflect the change. I have calculated cummulative contributions for the plan total and for each indiviudal against the insurance premiums. The percentage lay between 51% to 61%. Since the insurance premium is below the 66 2/3% does it look like it would be o.k. to keep the same life insurance premiums and just adjust the annuity premiums?