N-2014-5: Defined Benefit guidance

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Issue Number:    N-2014-5

Inside This Issue

Notice 2014-05 provides temporary nondiscrimination relief for certain “closed” defined benefit pension plans (i.e., defined benefit plans that provide ongoing accruals but that have been amended to limit those accruals to some or all of the employees who participated in the plan on a specified date). 
 
This notice permits certain employers that sponsor a closed DB plan and a DC plan to demonstrate that the aggregated plans comply with the nondiscrimination requirements of § 401(a)(4) on the basis of equivalent benefits, even if the aggregated plans do not satisfy the current conditions for testing on that basis.  The notice also requests comments on possible permanent changes to the nondiscrimination rules under § 401(a)(4).
 
Notice 2014-05 will be published in Internal Revenue Bulletin 2014-2 on Jan. 6, 2014

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