Community Newspapers Get Template for Seeking Pension Relief

Aug. 13, 2020, 6:34 PM

Community newspapers seeking to pay off their pension liabilities over 30 years instead of seven will have an easier time applying for the change with the release of a new model election form.

The latest guidance (Notice 2020-60) from the Internal Revenue Service, released Thursday, includes a template for eligible newspapers to follow when filing for the pension funding relief made available through the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which took effect Jan. 1.

That law allows a dozen or so media companies to lower their annual pension contributions by making payments over...

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