BRF

[cs771]

Good morning -

I have a few very basic questions about benefits, rights and features (BRF - IRC - 401(a)(4)).  I believe it applies to all stock bonus, pension or profit sharing plans.  However, it does not apply to governmental 457(b)  plans.  Does it also not apply to governmental 401(a) Plans?  What about 403(b) Plans? My understanding is governmental plans are not required to comply with 411(d)(6) either, correct?  Finally, if BRF does not apply, then is there a similar standard to look to with governmental plans?

Thank you!

[Luke Bailey]

If it is a governmental plan under 414(d), 401(a)(4) and all regs under it do not apply. See IRC sec. 401(a)(5)(G). Ditto for 411(d)(6). See flush language of 401(a) immediately following 401(a)(37). Whatever constrains them is going to be state law and the "definitely determinable benefit" rule of 1.401-1, and pre-ERISA vesting requirements.