Extension of Certain PPA Amendment Deadlines
Rev. 12/18/09; E-mail Alert 2009-20

Notice 2009-97 does not extend the plan document amendment deadline for most of the provisions of Pension Protection Act of 2006 (PPA). Rather, a select limited few provisions of PPA have been given an extended amendment deadline. The rest of the PPA provisions must still be added by a good-faith plan amendment by the end of the 2009 plan year.
 
Notice 2009-97 extends the deadline from the last day of the 2009 plan year to the last day of the first plan year beginning on or after Jan. 1, 2010 for only the following PPA provisions:

1. The deadline for amending single-employer defined benefit plans to meet the requirements of §§401(a)(29) and 436, relating to funding-based limits on benefits and benefit accruals under single-employer plans;

2. The deadline for amending cash balance and other applicable defined benefit plans, within the meaning of §411(a)(13)(C), to meet the requirements of §411(a)(13) (other than IRC §411(a)(13)(A)) and §411(b)(5), relating to vesting and other special rules applicable to these plans; and

3. The deadline for amending applicable defined contribution plans, within the meaning of §401(a)(35)(E), to meet the requirements of §401(a)(35), relating to diversification requirements for certain defined contribution plans.

Limited relief from the anti-cutback requirements of §411(d)(6) for amendments that are adopted by the extended deadline for amending a plan to meet the requirements of §§401(a)(29) and 436 are also provided.

Limited §411(d)(6) relief is expected to be granted for amendments that are adopted by the extended deadline for amending a plan to meet the requirements of §411(b)(5) once final regulations under §§411(a)(13) and 411(b)(5) are issued.

Click here for more information on the amendments that are required prior to the end of the 2009 plan year.

NEED HELP GETTING RESTATEMENTS DONE? CONTACT US AT 973-492-1880.