Monday, December 20, 2010

Notice 2010-77 - Extension of Deadline to Adopt Certain Retirement Plan Amendments

This notice further extends the deadline for amending qualified defined benefit plans to meet certain requirements of the Code that were added by the Pension Protection Act of 2006 (PPA '06) and subsequently modified by the Worker, Retiree, and Employer Recovery Act of 2008 (WRERA) and the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (PRA 2010). The deadline for adopting an interim or discretionary plan amendment under sections 401, 436, and 411 is extended to the last day of the first plan year that begins on or after January 1, 2011. A plan must continue to satisfy the operational compliance requirements of section 1107 of PPA '06 as a condition of the extension of the deadline for adopting plan amendments provided by this notice. Notice 2009-97 and Rev. Proc. 2007-44 modified.

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