• IRS Proposes Regulations on Elimination of Code Section 411(d)(6) Protected Benefits
  • April 6, 2004
  • Law Firm: Dechert LLP - Office
  • Section 411(d)(6) of the Internal Revenue Code (the "Code") generally provides that a retirement plan is treated as not being "qualified" if the accrued benefit of a participant is decreased by an amendment to the plan. Code section 411(d)(6) further provides that a plan amendment that has the effect of eliminating or reducing an early retirement benefit, a retirement-type subsidiary, or an optional form of benefit ("protected benefits"), with respect to the benefits earned before the amendment, is treated as impermissibly reducing accrued benefits.