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New IRS Guidelines for Pension Equity Plan Determination Letters
Internal Revenue Service [IRS] Link to more items from this source
[Guidance Overview]
Dec. 2, 2014

"A PEP is a type of hybrid pension plan under which the benefit is expressed as a lump sum amount rather than as an annuity payable at normal retirement age. Under a PEP formula, the benefit is usually defined as a percentage of a participant's final average pay. The percentage typically accumulates over a participant's career according to an annual schedule based on a participant's age or years of service. A PEP also generally provides for hypothetical interest on a participant's accumulated benefit."

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