Excerpt: Time is running out for sponsors of defined benefit pension plans to adopt amendments that must be made by the end of the year to provide for limits on benefit payments and benefit accruals as required under section 436 of the Internal Revenue Code. These limits apply in the event that the plan falls short of funding targets established under the Pension Protection Act of 2006 (PPA). Limits start to apply if the plan's adjusted funding target attainment percentage (AFTAP), as certified by the plan's actuary, falls below 80 percent, and additional and stricter limits apply if the plan's AFTAP falls below 60 percent.  MORE >>