EMPLOYEE PLANS

T.D. 9419, page 790. Final regulations under section 430 of the Code provide mortality tables to be used in determining present value or making any computation for purposes of applying the minimum funding requirements for single employer qualified defined benefit pension plans pursuant to changes made by the Pension Protection Act of 2006. The regulations provide generally applicable mortality tables and also provide guidance regarding an employer’s request to use plan-specific mortality tables.

Rev. Proc. 2008–56, page 826. This procedure relaxes certain restrictions that now apply to the issuance of opinion and advisory letters for new pre-approved plans under Rev. Proc. 2007–44. Those restrictions effectively limit the ability of sponsors of pre-approved plans (such as banks, insurance companies and law firms) to apply for opinion and advisory letters for new plans after March 31, 2008, and also limit the ability of adopting employers to rely on the letters issued for new plans. Rev. Proc. 2007–44 modified.