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IRS Releases Notice on Pension Funding Stabilization
Towers Watson Link to more items from this source
[Guidance Overview]
Sept. 14, 2014

"While the IRS provided extensions of some deadlines, there was no extension of the September 15, 2014 deadline for making 2013 plan year contributions for calendar-year plans. Therefore, plan sponsors should review [Notice 2014-53] quickly, as they need to make decisions and possibly take action very soon.... Sponsors can opt out of the new law for 2013 for all purposes or just for benefit restrictions. Opting out will avoid the need to redo work, but may result in higher required contributions and/or lower funding balances. Sponsors can opt out by making an election by December 31, 2014 (or by the date the 2013 Form 5500 is due, if later, which can only apply to non-calendar-year plans). An option to elect out will be deemed made if a Schedule SB that does not reflect the HATFA rates is filed by December 31, 2014, provided no action is taken to revoke that deemed election."

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