I had heard that the Treasury and IRS were poised and ready to act quickly once the Pension Funding Equity Act of 2004 was signed into law. Evidently they were, as the Act was only just signed by President Bush on Saturday, and the Treasury and IRS have already issued the interest rate change for pension plan funding as stated in this press release: “Treasury and IRS Issue New Pension Interest Rate For Defined Benefit Plans.” See also Notice 2004-34 and Announcement 2004-38. More on this later . . .
Pension Interest Rate Relief-Finally!
I had heard that the Treasury and IRS were poised and ready to act quickly once the Pension Funding Equity Act of 2004 was signed into law. Evidently they were, as the Act was only just signed by President Bush…