Paula Calimafde Provides Commentary for PLANSPONSOR Article on New Comparability Plans
Paula Calimafde provided commentary for an article titled: "New Comparability Plans Allow the Employer to Reward Older Employees and Owners," which was published on PLANSPONSOR.com on July 26, 2017.
"Employers will typically use cross-tested plans to reward employees for their longevity or to help older workers who have less time to accumulate assets, says Paula Calimafde, a partner with Paley Rothman in Bethesda, Maryland. “It is a way for the company to fine tune the plan to use it as a retention tool to keep the employees it feels are important to the success of the company,” she says. These plans also have a “last day of service requirement,” so that if an employee moved over into another category, the employer can change their contribution, she says."
The full article, "New Comparability Plans Allow the Employer to Reward Older Employees and Owners," by Lee Barney can be found on PLANSPONSOR.com.
Paula Calimafde chairs the firm’s Retirement Plans, Employee Benefits and Government Relations practice groups and is also a senior member of the Estate Planning, Tax, and Nonprofit groups. Paula Calimafde has more than 35 years of experience advising companies and tax-exempt organizations on qualified and non-qualified retirement plans and employee benefits, including non-qualified deferred compensation, welfare benefit and cafeteria plans.