Section 1. Purpose

This revenue procedure provides guidance regarding the application of the minimum funding standards under § 412 of the Internal Revenue Code and the limitations on deductions under § 404 to qualified money purchase pension plans. If the requirements described in this revenue procedure are satisfied, a future plan amendment related to recent changes in the law that is made retroactively effective will be deemed to have been adopted and put into effect as of the amendment’s retroactive effective date for purposes of applying §§ 412 and 404 to a money purchase pension plan.