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5500 Preparer's Manual for 2012 Plan Years
The premier resource in the field of Form 5500 preparation, 5500 Preparer's Manual will help you handle the required annual Form 5500 filings for both pension benefits and welfare benefit plans.
The IRS is reminding defined benefit plan sponsors that are subject to Code Sec. 436 and which have calendar plan years that they must obtain an actuarial certification of the plan's adjusted funded target attainment percentage (AFTAP) for 2008 prior to October 1, 2008. Otherwise, the AFTAP for the current plan year will be presumed to be less than 60 percent, meaning that as of October 1, 2008, such plans would be subject to limitations on the accrual and payment of benefits which Code Sec. 436 imposes on underfunded plans. These limitations include the cessation of benefit accruals, and prohibitions against plan amendments which increase plan liabilities and the payment of accelerated benefits, such as lump-sum benefits.
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