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Pension and Employee Benefits: Code, ERISA, & Regulations
This series provides an authoritative and comprehensive reference to the full text of benefits-related provisions of the Internal Revenue Code, the full text of ERISA, and related proposed and final regulations, as well as the official IRS and DOL preambles, and Committee Reports.

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CCH® PENSION AND BENEFITS — 1/9/08

Senate passes PPA technical corrections bill

The Senate passed the Pension Technical Corrections Bill (S. 1974) by unanimous consent on December 19, 2007. The bill will remain at the desk in the Senate until a companion measure is received from the House when it returns from its recess in 2008 (the text of the House bill is at CCH Pension Plan Guide ¶29,149).

The legislation contains technical corrections to Titles I through XII of the PPA. The bill addresses several substantive provisions in the PPA, including:

• the 2008 transition rule for determining at-risk status for single employer defined benefit plans;
• the payment of vested benefits from an underfunded plan otherwise prohibited from paying lump sums;
• fiduciary relief available during a “blackout period”;
• the restriction on accelerated forms of payment for multiemployer plans in critical status;
• the effective dates of the hybrid plan rules;
• the combined plan deduction limit for defined benefit and defined contribution plans; and
• plan rollovers by non-spousal beneficiaries.

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