Publication
Employee Benefits Update – IRS Extends Deadline for Certain Plan Amendments
IRS Extends Deadline for Certain Plan Amendments
The Internal Revenue Code was amended in 2006 as part of the Pension Protection Act to restrict the ability of a defined benefit plan to make lump sum and other forms of “accelerated payments,” unless the plan was adequately funded. All these rules generally became effective in 2008, but the Internal Revenue Service (the “IRS”) has consistently pushed off the date by which plans must be amended to reflect these new requirements.
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Founded in 1938, Snell & Wilmer is a full-service business law firm with more than 500 attorneys practicing in 16 locations throughout the United States and in Mexico, including Los Angeles, Orange County and San Diego, California; Phoenix and Tucson, Arizona; Denver, Colorado; Washington, D.C.; Boise, Idaho; Las Vegas and Reno, Nevada; Albuquerque, New Mexico; Portland, Oregon; Dallas, Texas; Salt Lake City, Utah; Seattle, Washington; and Los Cabos, Mexico. The firm represents clients ranging from large, publicly traded corporations to small businesses, individuals and entrepreneurs. For more information, visit swlaw.com.
