IRS Extends Year-End Deadlines for Cash Balance, Defined Benefit Plans

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IRS issues a notice extending to the last day of the first plan year that begins on or after Jan. 1, 2011, two upcoming deadlines: one for amending single-employer defined benefit plans to comply with funding-based benefit limits and the other for amending cash balance and other hybrid plans to comply with new vesting rules. Notice 2010-77 extends the deadline by one year for plan sponsors to meet the requirements of tax code Sections 401(a)(29) and 436 related to funding-based restrictions on benefits and benefit accruals.