Tax Headlines


Guidance Released on Pension Funding Stabilization for Single-Employer Defined Benefit Pension Plans (Notice 2012-61)

The IRS has issued guidance on special rules related to pension funding stabilization for single-employer defined benefit pension plans due to amendments to the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 (ERISA) by the Moving Ahead for Progress in the 21st Century Act (MAP-21) (P.L. 112-141 ). Code Sec. 430 specifies the minimum funding requirements applicable to such plans. Code Sec. 430(h)(3) sets forth interest rates to be used in calculating the minimum required contribution, which are either a set of three segment rates or, alternatively, a full yield curve.

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