Bulletin No. 1998–25 June 22, 1998

before an employee’s compensation can be contributed to an employer’s section 401(k) plan in the absence of an affirmative election by the employee.

Notice 98–33, page 10. Weighted average interest rate update. Guidelines are set forth for determining for June 1998, the weighted average interest rate and the resulting permissible range of interest rates used to calculate current liability for purposes of the full funding limitation of section 412(c)(7) of the Code as amended by the Omnibus Budget Reconciliation Act of 1987 and by the Uruguay Round Agreements Act (GATT).