Overview on IRS guidance regarding special funding and benefit limitation rules for single-employer DB plans

The Internal Revenue Service (IRS) recently published Notice 2020-61, which provides technical guidance on the special rules regarding the funding of single-employer defined benefit (DB) pension plans. The Notice also provides guidance relating to benefit restrictions under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. It includes 18 detailed questions and answers anticipating technical issues for “extended due date” DB plan contributions and other changes for these pension plans under the CARES Act.

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