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Text of Proposed IRS Regs: Prohibited Payment Option under Single-Employer Defined Benefit Plan of Plan Sponsor In Bankruptcy
Internal Revenue Service [IRS] Link to more items from this source
[Official Guidance]
June 20, 2012

"These proposed regulations would provide [a] limited exception to the anti-cutback rules to permit a plan sponsor that is a debtor in a bankruptcy proceeding to amend its single-employer defined benefit plan to eliminate a single-sum distribution option (or other optional form of benefit providing for accelerated payments) under the plan if certain specified conditions are satisfied.... These regulations are proposed to apply to plan amendments that are adopted and effective after August 31, 2012."

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