SECURE Act Testing Relief for Closed/Frozen Defined Benefit Plans

In recent years, many defined benefit (“DB”) pension plan sponsors have taken action to limit ongoing coverage and benefit accruals of their DB plans.  Over time these plans may have difficulty continuing to satisfy the nondiscrimination or minimum participation requirements applicable to tax-qualified pension plans.  Employers that continue to maintain DB plans, as well as their recordkeepers and consultants, may find that the SECURE Act’s new rules in this area will provide helpful flexibility.

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