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Treasury and IRS Change Position on Applying Combined Plan Limit
Deloitte via BenefitsLink.com Sept. 20, 2007
Excerpt: A letter from key Members of Congress has prompted the Treasury Department and IRS to reconsider their interpretation of certain changes the Pension Protection Act ('PPA') of 2006 ... made to the IRC § 404(a)(7) combined plan deduction limit. Employers that contribute both to defined benefit and defined contribution plans now will be able to take advantage of the 150 percent of current liability limit in 2006 and 2007 as long as their contributions to the defined contribution plan do not exceed six percent of compensation.
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