IRS semiannual regulatory agenda includes guidance on funding rules, eligible combined plans


The IRS has released its semiannual regulatory agenda for Fall 2014, which includes pension and benefit regulations that are currently under development or review.

Proposed rule stage

Among the items in the IRS’s proposed rule stage are:

• Guidance relating to governmental plans and Indian tribal government plans.

• Additional guidance regarding the determination of plan assets and benefit liabilities for purposes of the funding requirements that apply to single-employer defined benefit plans, the use of certain funding balances maintained for those plans, and the benefit restrictions for certain underfunded defined benefit pension plans.

• Guidance on eligible combined plans under Code Sec. 414(x).

• Modification to the minimum present value requirements applicable to certain defined benefit pension plans.

Final rule stage

The items in the IRS’s final rule stage include the following:

• Guidance on the application of the accrual rules for defined benefit plans in cases where plan benefits are determined on the basis of the greater of two or more separate formulas.

• Guidance on the determination of minimum required contributions for purpose of the funding requirements that apply to single-employer plans.

• Final rules providing guidance to a participant of his or her right, if any, to defer receipt of an immediately distributable benefit and must also describe the consequences of failing to defer receipt of the distribution.

• Modification to the rules regarding the minimum present value requirements that apply to certain distributions from qualified defined benefit retirement plans in order to facilitate certain annuity distributions and to reflect statutory changes to the applicable requirements.

Source: IRS Agenda for Fall 2014,

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