Transcription of IRS Issues Final Section 415 Rules for Defined Benefit Plans
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2007, The Prudential Insurance Company of America, all rights reserved. IRS Issues Final Section 415 Rules for Defined Benefit Plans WHO'S AFFECTED These Rules affect sponsors of and participants in qualified Defined Benefit Plans , including multiemployer Plans , governmental Plans and nonelecting church Plans . BACKGROUND AND SUMMARY Section 415 of the Internal Revenue Code limits the amount of benefits that may be paid to a participant in a Defined Benefit plan.
This Pension Analyst describes the major provisions of the final rules that affect defined benefit plans. A ... In the case of a multiemployer plan, an employee is treated as having a severance from employment only when the employee is no longer providing services to any
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