EMPLOYEE PLANS

Rev. Rul. 2002–45, page 116. Restorative payments; nondiscrimination; deductions; qualified defined contribution plan . This ruling describes two situations in which certain payments, which are termed “restorative payments” in the ruling, to a qualified defined contribution plan are not treated as contributions for purposes of various sections of the Code.

Rev. Rul. 2002–46, page 117. Deductibility; timing . Contributions made during a grace period to a section 401(k) plan or as matching contributions to a qualified defined contribution plan are not deductible by the employer for a taxable year if the contributions are attributable to compensation earned by plan participants after the end of that taxable year. Rev. Proc. 2002–9 modified and amplified.

Notice 2002–48, page 130. Deductibility of contributions; timing . This notice provides that the Service will not challenge the deductibility of certain contributions actually made during the taxable year in anticipation of section 401(k) deferrals and section 401(m) matching contributions.

(Continued on the next page) Finding Lists begin on page ii.

Notice 2002–49, page 130. Weighted average interest rate update. The weighted average interest rate for July 2002 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 are set forth.

Rev. Proc. 2002–47, page 133. Administrative programs; closing agreements . This procedure updates and expands upon the Service’s correction programs for retirement plans within the jurisdiction of the Commissioner, Tax Exempt and Government Entities Division. Rev. Proc. 2001–17 modified and superseded.