Category Archives: Distributions

No Becomes Yes – IRS Changes Interpretation of 402(l) for Govt Plans

Posted on December 5, 2007 by Administrator

The IRS issued a change in their position on the impact of Section 845 of the Pension Protection Act. Earlier this year, in Notice 2007-7, the IRS issued Q&A 23, which states: Q-23. Can the accident or health plan receiving … Continue reading →

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Guidance for Terminations and Lump Sum Distributions Straddling January 1st, 2008

Posted on December 4, 2007 by Administrator

For plan years beginning on or after January 1, 2008, the Pension Protection Act amended Code section 417(e)(3), changing the applicable interest rate and applicable mortality table. For single employer defined benefit plans terminating before January 1, 2008, this change … Continue reading →

Posted in Defined Benefit, Distributions | 1 Comment

Veteran’s Day

Posted on November 11, 2007 by Administrator

Lizzie Palmer has posted an amazing video on YouTube. The video has nothing to do with plan documents or ERISA directly. Earlier this month, I posted about reviewing the USERRA provisions in plan documents before making year-end contribution projects for … Continue reading →

Posted in Distributions, Legislation, Plan Language | 1 Comment

7th Circuit Includes COLAs in DB Lump Sum Calculations

Posted on August 15, 2007 by Administrator

In a cautionary tale about how plan documents can be written too carefully, the 7th Circuit this week, in Williams v. Rohm and Haas Pension Plan, __ F.3d __ (S.D. Indiana) (Aug. 14, 2007), affirmed both the district court’s decision … Continue reading →

Posted in Defined Benefit, Distributions | 97 Comments

IRS Clarifies New Regs on Normal Retirement Age

Posted on August 10, 2007 by Suzanne Wynn

The IRS issued Notice 2007-69 today. It resolves some of the issues involving the changes to normal retirement age raised by the Final Regulations on Distributions from a Pension Plan Upon Attainment of Normal Retirement Age, which the IRS released … Continue reading →

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Spousal Consent When Married Less than a Year

Posted on August 1, 2007 by Suzanne Wynn

Some days, every question can be answered by applying the examples contained within the Treasury regulations. Today, the question involved a participant in a terminating defined benefit plan who has been married for six months and wants to take a … Continue reading →

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IRS Clarifies Full Vesting on Partial Termination

Posted on June 26, 2007 by Suzanne Wynn

Recognizing when a plan has partially terminated is important and sometimes overlooked. For both participants and plan sponsors, the finding of a partial termination is an important plan event because participants who were partially vested before the partial termination event … Continue reading →

Posted in Distributions, IRS, Plan Language, Vesting | 1 Comment

IRS Releases Final Regs on Distributions During Working Retirement

Posted on May 22, 2007 by Suzanne Wynn

The IRS has issued Final Regulations on Distributions From a Pension Plan on Attainment of Normal Retirement Age, which permit employees to take distributions from retirement plans once they reach retirement age but are still employed by the employer. These … Continue reading →

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