Notice 2015-58: Pension plans maintained by cooperative, charity groups

Pension plans maintained by cooperative, charity groups

The IRS today released an advance version of Notice 2015-58 that provides in question and answer (Q&A) format guidance on issues relating to law enacted in 2014 that specifies minimum funding requirements and related rules for certain defined benefit pension plans maintained by groups of (1) cooperatives and related entities and (2) charities.


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The Cooperative and Small Employer Charity (CSEC) Pension Flexibility Act of 2014 provides rules relating to the minimum funding requirements for certain defined benefit plans maintained by groups of cooperatives and charities, and added section 433 to the Code to specify minimum funding rules that apply for plan years beginning after January 1, 2014. 


Notice 2015-58 [PDF 94 KB] includes guidance that, among other items, defines what is a CSEC plan and lists the reporting requirements.

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