Co-Op, Charity Multiple Employer Plans Get Guidance From IRS

Multiple employer plans sponsored by cooperative organizations and charities were the subject of guidance issued by the IRS that addresses the application of the Cooperative and Small Employer Charity Pension Flexibility Act to those plans.

Notice 2015-58, issued Aug. 28 by the Internal Revenue Service, details rules for CSEC plans, including how to elect to cease to be an eligible charity plan and the associated reporting requirements.

Tax code Section 430, added by the Pension Protection Act of 2006, gives the minimum funding requirements for single-employer defined benefit plans. Section 436 imposes certain restrictions for single-employer defined benefit plans on ...