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IRS Issues Final and Proposed Hybrid Plan Regs
Proskauer Rose LLP Link to more items from this source
[Guidance Overview]
Oct. 16, 2014

"The new regulations confirm that a cash balance plan may credit interest based on the actual rate of return on the aggregate assets of the plan, provided that plan assets are diversified to minimize volatility.... The regulations clarify that a participant's right to future interest credits under a hybrid plan as determined under the plan terms, to the extent not tied to future service with the employer, is a protected benefit under Code Section 411(d)(6).... The IRS had previously requested comments regarding whether hybrid plans should permit participants to 'direct' the 'investment' of their accounts to track certain pre-selected investment options ... [E]ven though this issue is not settled, hybrid plans should not introduce a self-directed interest crediting method that was not in place on September 19, 2014."

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