IRS provides sample plan amendment for use by underfunded single employer defined benefit plans

The IRS today released an advance copy of Notice 2011-96 that provides a sample plan amendment that plan sponsors may adopt to satisfy section 436* regarding limitations on the accrual and payment of benefits under certain underfunded single employer defined benefit plans. The sample plan amendment is included in an appendix.

*Section 436 provides a series of limitations on the accrual and payment of benefits under an underfunded plan.

Notice 2011-96 also extends both the deadline to amend a plan to satisfy section 436 and the period during which such an amendment is eligible for relief from the anti-cutback requirements of section 411(d)(6).

For an electronic copy of the 19-page notice: Notice 2011-96

Notice 2011-96 will appear in Internal Revenue Bulletin 2011-52, dated December 27, 2011.

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