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2004 Participant Notice Worksheet
Flowchart provides plan administrators with the necessary process to determine whether a participant notice is required.
if No then 2004 Participant Notice not Required
if Yes then next (item 2)
2. Is the plan's FCL Percentage at least 90% for either:
(a) 2004 (using 100% Weighted Corporate Rate), or
(b) 2003 (using 120% Weighted Treasury Rate)?
if Yes then 2004 Participant Notice not Required
if No then next (item 3)
3. Is the plan's FCL Percentage at least 80% for the 2004 plan year (using 100% Weighted Corporate Rate) and
(a) at least 90% for both
(i) 2003 (using 100% Weighted Corporate Rate or 120% Weighted Treasury Rate), and
(ii) 2002 (using 100% Weighted Corporate Rate or 120% Weighted Treasury Rate), or
(b) at least 90% for both
(i) 2002 (using 100% Weighted Corporate Rate or 120% Weighted Treasury Rate), and
(ii) 2001 (using 100% Weighted Corporate Rate or 105% Weighted Treasury Rate)?
if Yes then 2004 Participant Notice not Required
if No then next (item 4)
4. Is the plan's FCL Percentage at least 80% for the 2003 plan year (using 120% Weighted Corporate Rate) and
(a) at least 90% for both
(i) 2002 (using 120% Weighted Treasury Rate),and
(ii) 2001 (using 105% Weighted Treasury Rate), or
(b) at least 90% for both
(i) 2001 (using 105% Weighted Treasury Rate), and
(ii) 2000 (using 105% Weighted Treasury Rate)?
if Yes 2004 Participant Notice not Required
if No then 2004 Participant Notice Required
Note - In some cases, it might be simpler to do step 4 before step 3 (for example, if the 2004 FCL Percentage has not yet been calculated or if you already know the answer to step 4 is "yes" because of analysis done when you determined whether a 2003 Participant Notice was required).
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