The Weiss Group
Floor Offset
This Plan type is not a true hybrid Plan: It is actually two Plans, a Defined Benefit (DB) Plan and a Profit Sharing (PS) Plan.
Under this arrangement, the DB Plan provides a floor minimum benefit for each participant that is offset by the accumulated value in the participant's PS account.
Some participants, generally those that are younger at their date of participation, have benefits paid exclusively from the PS - because those benefits exceed the floor promised under the DB plan: Others, generally those that are older at their date of participation, receive benefits from both the DB and PS Plans.
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