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Defined Benefit Answer Book, Seventh Edition by Lynn M. Young ,Kevin J. Donovan Pinnacle Plan Design, LLC ,Sheri Alsguth Defined Benefit Answer Book, Seventh Edition by Lynn M. Young ,Kevin J. Donovan Pinnacle Plan Design, LLC ,Sheri Alsguth

Defined Benefit Answer Book, Eighth Edition

By Kevin J. Donovan, Lynn M. Young, Andrew Forgrave, Kevin F. Strauch, Lisa A. Pfautz
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Overview

Defined Benefit Answer Book, 2021 Edition, provides expert guidance on the complex rules governing defined benefit pension plans. In this comprehensive resource, the authors guide the subscriber, step by step, through the maze of factors that must be considered when designing and administering these plans.

Defined Benefit Answer Book, 2021 Edition, includes updates reflecting:

  • Changes in the Setting Every Community Up for Retirement Enhancement (SECURE) Act
  • An updated chapter on Financial Accounting Standards
  • Changes in employee communication under the safe harbor for electronic disclosure under the 2020 Department of Labor regulations
  • The discrimination relief provided under the SECURE Act for frozen plans • Changes to the missing participant program under the Pension Benefit Guaranty Corporation (PBGC) rules

Note: Online subscriptions are for three-month periods.

Pages 1606
Last Updated 12/11/2020
Update Frequency Annually
Product Line Wolters Kluwer Legal & Regulatory U.S.
ISBN 9781543824568
SKU 10083614-7777
Publish Frequency Annually
Product Line Wolters Kluwer Legal & Regulatory U.S.
SKU 000000000010048441
Table of Contents
  • Defined Benefit Plans: An Overview
    • Basics
    • Benefits
    • Funding of a Defined Benefit Plan
    • PBGC
    • Plan Termination
    • Administrative Timeline
  • 2. Characteristics of a Defined Benefit Plan
    • General Characteristics and Qualifications of Qualified Plans
    • Coverage Requirements of Defined Benefit Plans
    • Benefits
    • Funding
    • Fiduciary Responsibilities
  • 3. Plan Design
    • The Basics
    • Employer Objectives
    • Demographics
    • Plan Sponsor Structure
    • Types of Defined Benefit Formulas
    • Additional Limitations and Testing
    • Additional Factors
  • 4. Hybrid Plans
    • The Basics
    • Target Benefit Plans
    • Floor-Offset Plans
    • Cash Balance Plans
    • Pension Equity Plans
    • Eligible Combined Plans
  • 5. Special Employers and Plans
    • Small Businesses; Top-Heavy Plans
    • Tax-Exempt Employers; Church Plans
    • Governmental Plans
    • Multiemployer Plans
  • 6. Eligibility—Coverage and Participation
    • Eligibility
    • Coverage Requirements
    • Participation
    • The Employer
    • Leased Employees
  • 7. Measuring Service
    • The Importance of Service
    • Hour of Service
    • Computation Periods
    • Year of Service
    • Break in Service
    • Elapsed Time
    • Affiliated Employers and Transfers in and Out of Covered Service
  • 8. Vesting
    • Vesting Schedules
    • Year of Service
    • Forfeiture
    • Plan Termination
    • Protected Benefits
  • 9. Plan Benefits/Accrued Benefits
    • Benefit Formulas
    • Accrued Benefits
    • Benefit Service
    • Forms of Benefit Payment
    • Minimum Top-Heavy Benefits
    • Compensation Used for Benefits
    • Employee Contributions
    • Benefit Accruals After Normal Retirement Age
  • 10. Safe Harbor Benefit Formulas
    • Definitions
    • Discrimination Tests
    • Covered Compensation
    • Adjustments and Actuarial Equivalency
    • Limitations
    • Past-Service Credits
  • 11. Advanced Plan Design
    • The General Test
    • Normalizing a Benefit
    • Miscellaneous Testing Concerns
    • Fresh Starts
    • Past-Service Grants
    • Compensation Issues
    • Optional Testing Items
    • Cross-Testing
    • Combination Defined Benefit/Defined Contribution Plans
    • Case Study
  • 12. Maximum Plan Benefits
    • Limitations on Annual Benefits
    • Limitations on Lump-Sum Payments
    • Compensation Limitations
  • 13. Minimum Required Contributions
    • Minimum Funding for Single-Employer Defined Benefit Plans
    • At-Risk Calculations
    • Penalties for Failure to Meet Minimum Funding
    • Waivers of Minimum Funding
    • Amendments
    • Other Factors That May Affect Funding
    • Funding Relief for 2008–2011 Plan Year
    • End-of-Year Valuations
    • Asset Calculations
    • Funding Elections
    • Quarterly Contributions
    • Liquidity Requirements
    • Funding of AncillaryBenefits
    • Short Plan Year
    • Changing the Funding Method
    • Multiple Employer Plans Prior to PPA
    • Multiemployer Pension Plans
  • 14. Deductions
    • Deduction Limits After PPA
    • Other Deduction Issues
    • Timing of Contributions and Deductions
    • Factors Affecting Deduction Limits
    • Deductions for Owner-Employee Sponsored Plans
    • Deductions of Plan Expenses and Fees
    • Short Years
    • Deduction Limits Pre-PPA
  • 15. Valuation of Liabilities and Assets
    • Actuarial Liabilities
    • Valuation of Actuarial Liabilities
    • Calculation of Liabilities
    • Valuation of Assets
  • 16. Census Data and Demographics
    • Census Data
    • Mortality Tables
  • 17. The Role of the Enrolled Actuary
    • Definition of Actuary
    • Selecting Actuarial Assumptions
    • Actuarial Standards and Code of Conduct
    • ASOP Nos. 4 and 23
    • ASOP No. 27
    • ASOP No. 41
    • Other Standards of Practice
  • 18. Cash Balance Plans
    • Safe Harbor Nondiscrimination Requirements Related to Benefits
    • Other Requirements
    • Nondiscrimination Regulations Related to Age
    • Funding
    • Vesting and Distributions
    • Legal Issues
  • 19. 412(e)(3) Defined Benefit Plans (Formerly 412(i) Defined Benefit Plans)
    • Basics of 412(e)(3)
    • Nondiscrimination Requirements
    • Top-Heavy Requirements
    • Conversions
    • Advantages and Disadvantages
  • 20. Ancillary Benefits
    • General Restrictions
    • Disability Benefits
    • Preretirement Death Benefits
    • Early Retirement Benefits
    • 414(k) Accounts
    • Medical Expense Accounts
    • Deferred Retirement Option Program
  • 21. Distribution of Benefits
    • Administrative Requirements
    • Form of Benefits
    • Time of Payment
    • QJSA Rules
    • Death Benefits and the QPSA Rules
    • Suspension of Benefits
    • Required Minimum Distributions
    • Assignment and Alienation of Benefits
    • Taxation of Distributions
    • Lost Participants
  • 22. Funding-Based Restrictions
    • Funding-Based Benefit Restrictions Under Code Section 436
    • AFTAP Calculations
    • Benefit Restrictions
    • ERISA Section 101(j) Notices
  • 23. Qualified Domestic Relations Orders
    • General Rules and Considerations
    • Elements of a QDRO
    • Alternate Payees
    • Amount of Assigned Benefit
    • Form of Payment
    • Timing of QDRO Benefit Payment
    • Death of Parties
    • QDRO Policy and Procedure
  • 24. Pre-PPA Funding Methods
    • Funding Method Basics
    • Unit Credit/Accrued Benefit Funding Method
    • Aggregate Funding Method
    • Individual Aggregate Funding Method
    • Entry Age Normal Funding Method
    • Frozen InitialLiability Funding Method
    • Attained Age Normal Funding Method
    • Individual Level Premium (ILP) Funding Method
    • Comparison of Funding Methods
    • Funding Method Requirements
    • Funding of Life Insurance and Other Ancillary Benefits
    • Changing a Funding Method
    • Consulting Issues
  • 25. Pension Benefit Guaranty Corporation
    • Coverage
    • Premiums
    • Participant Notification Requirements
    • Reportable Events
    • ERISA Section 4010 Annual Reports
    • Section 4062(e) Event
  • 26. Frozen Defined Benefit Plans
    • Notice Requirements
    • Funding Requirements
    • Regulatory Requirements
    • Alternatives to a Freeze
  • 27. Plan Termination
    • Termination Procedures
    • Reporting to the IRS
    • Standard Terminations .
    • Missing Participants .
    • Standard Termination Audits by the PBGC
    • Distress Terminations
    • PBGC Benefits and Coverage
    • Bankruptcy-Related Terminations with the PBGC
    • Surplus Assets
    • Underfunded Plans
  • 28. Mergers and Acquisitions
    • Corporate Transactions
    • Document and Operational Review
    • Ongoing Plan Considerations
    • Plan Transactions
    • Asset Allocation
    • Administrative Requirements
  • 29. Fiduciary Responsibility
    • The Basics
    • Fiduciary Duties
    • The Fiduciary
    • Cofiduciaries
    • Prohibited Transactions
    • Fiduciary Liability
    • Investments
    • Correction of Plan Defects
  • 30. Employee Communication
    • Benefits and Rights Under the Plan
    • Summary Plan Descriptions and Summary of Material Modifications
    • Annual Funding Notice
    • Suspension of Benefits Notice
    • Funding
    • Distribution
    • Plan Amendment and Termination
    • Miscellaneous
  • 31. Government Reporting and Disclosure
    • Summary of Forms
    • Due Dates
  • 32. Schedules SB and MB Issues
    • What Must Be Filed
    • Schedules SB and MB
    • Line-by-Line Explanations for Schedule SB
    • Other Schedule SB/MB Issues
  • 33. Financial Accounting Standards
    • Codification
    • ASC 715
    • ASC 960
    • Worksheets for ASC 715 and ASC 715 Accounting
    • ASC 715 Standard Pension Audit Confirmation Letter
  • APPENDIX A - 2016, 2015, 2014, 2013, 2012, 2011, 2010, 2009, 2008, 2007, 2006, 2005, 2004, 2003, 2002, and 2001 Covered Compensation Tables
  • APPENDIX B - Annual Annuity Purchase Rates
  • APPENDIX C - Rates of Turnover
  • APPENDIX D - 2015 Schedule SB and 2015 Schedule MB (Form 5500)
  • APPENDIX E - Actuarial Code of Conduct
  • TABLES
    • Internal Revenue Code Sections
    • Treasury Regulations
    • Revenue Procedures
    • Revenue Rulings
    • Notices, Letter Rulings, and Announcements
    • ERISA Sections
    • DOL Regulations, Letters, Releases, etc
    • Pension Benefit Guaranty Corporation Regulations, Letters, Forms, etc.
    • Accounting and Actuarial Standards
    • Pension Protection Act of 2006
  • Table of Cases
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