WASHINGTON, Aug. 20 -- Internal Revenue Service has issued a proposed rule called: Determination of Target Normal Cost and Funding Target for Single-Employer Defined Benefit Plans.
The proposed rule was published in the Federal Register on Aug. 20 by Frank J. Bisignano, Chief Executive Officer.
Summary: This document contains proposed regulations that would modify rules in the existing regulations relating to the minimum funding requirement applicable to single-employer defined benefit pension plans. The modifications include changes to the rules relating to the determination of a plan's target normal cost and funding target and would implement certain statutory amendments that have not yet been reflected in the regulations. These propose...