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Minimum Funding and Lump Sum Interest Rate Guidance Issued by Kimberly J. Boggs
Jennifer A. Stojak
Larry R. Goldstein
McGuireWoods LLP
Chicago Office
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August 20, 2008
Previously published on October 16, 2007
On October 9, 2007, the Internal Revenue Service (the "IRS") issued Notice 2007-81 providing long-awaited guidance on the corporate bond yield curve and segment rates. The release of Notice 2007-81 is of critical importance to sponsors of defined benefit plans because the Pension Protection Act of 2006 (the "PPA") mandates the use of these segment rates to calculate a plan's minimum funding requirement as well as present value of benefits distributed in lump-sum form.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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