Articles for: Defined Benefit
Why would an employee want to participate in a defined benefit plan?
A defined benefit (DB) plan provides a defined level of income in retirement, which can be thought of as retirement insurance funded by the employer. In contrast, a defined contribution [...]
Key words: Defined Benefit,Pension
Moving Ahead for Progress in the 21st Century (MAP-21) Legislation Passed
Over the past few years, single-employer defined benefit plan funded percentages have declined significantly due to the investment losses incurred in 2008 and the historically low level of corporate bond [...]
Key words: Defined Benefit,MAP 21,minimum funding
Defined Benefit Plan Required To Be Amended in 2012
The Pension Protection Act of 2006 (“PPA”) added a new section to the Internal Revenue Code. Code Section 436 (“Section 436”) sets forth limitations on benefit payments and accruals for [...]
Key words: Defined Benefit,IRS code 436,Pension,PPA
What PPA elections are required by employers on an annual basis?
The Pension Protection Act of 2006 (PPA) introduced a myriad of changes to the system regulating defined benefit (DB) pension plans. The changes require DB plan sponsors to make certain [...]
Key words: Defined Benefit,PBGC,Pension,PPA,PPA elections
When is the IRS Form 5500 due for defined benefit plans?
IRS Form 5500 for defined benefit plans are due 7 months after the end of the plan year. For calendar year plan years this date is July 31 following the [...]
Key words: Defined Benefit,Form 5500