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Welcome to the Snell & Wilmer Benefits Blog. We will be posting about current employee benefits and executive compensation topics and issues. We invite you to contact the authors with your thoughts or questions.Blog Contributors
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The IRS Takes Aim at De-Risking of Defined Benefit Plans
Many defined benefit plan sponsors are looking for ways to reduce the on-going liability and the volatility of the annually required contributions to their defined benefit plans, which is sometimes referred to as “de-risking.” One de-risking strategy involves offering lump-sum … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged annuity payment, de-risking, defined benefit plans, IRS, lump-sum payment, Section 401(a)(9)
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DOL Issues Final Rules on Annual Funding Notice for Defined Benefit Plans
The Department of Labor recently issued final regulations implementing the annual funding notice that defined benefit plans are required to provide under Section 101(f) of ERISA. The final regulations are similar to the proposed regulations and the guidance issued in … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged annual funding notice, defined benefit plans, DOL, final rules
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IRS Issues Relief for Certain “Closed” Defined Benefit Plans
In Notice 2014-5, the IRS provided temporary relief from the Code’s nondiscrimination rules for certain defined benefit plans that are closed to new participants. (This is sometimes referred to as a “soft freeze.”). The temporary relief allows employers who sponsor … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged defined benefit plans, frozen plan, IRS, nondiscrimination, qualified retirement plans
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