Internal Revenue Service (IRS), Treasury.
This document contains corrections to final regulations that were published
in the Federal Register on August 9, 2006
(T.D. 9280, 2006-38 I.R.B. 450 [71 FR 45379]) that provide certain issues
under section 411(d)(6) of the Internal Revenue Code (Code), including the
interaction between the anti-cutback rules of section 411(d)(6) and the nonforfeitability
requirements of section 411(a).
This correction is effective August 9, 2006.
FOR FURTHER INFORMATION CONTACT:
Pamela R. Kinard, at (202) 622-6060 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
The final regulations that are the subject of this correction are under
section 411(d)(6) of the Internal Revenue Code.
As published, the final regulations (T.D. 9280), contain errors that
may prove to be misleading and are in need of clarification.
* * * * *
Correction of Publication
Accordingly, 26 CFR Part 1 is corrected by making the following correcting
amendment:
Paragraph 1. The authority citation
for part 1 continues to read in part as follows:
Authority: 26 U.S.C 7805 * * *
Par. 3. Section 1.411(d)-3 is amended by revising paragraph (3) to read
as follows:
§ 1.411(d)-3 Section 411 (d)(6) protected benefits.
(a) * * *
(3) * * * However, such an amendment does not violate section 411(d)(6)
to the extent it applies with respect to benefits that accrued after the applicable
amendment date.
(4) * * *
(ii) * * *
(B) * * *
(ii) * * * A method of avoiding a section 411(d)(6) violation with respect
to account balances attributable to benefits accrued as of the applicable
amendment date and earnings thereon would be for Plan D to provide for the
vested percentage of G and each other participant in Plan E to be no less
than the greater of the vesting percentages under the two vesting schedules
(for example, for G and each other participant in Plan E to be 20% vested
upon completion of 3 years of service, 40% vested upon completion of 4 years
of service, and fully vested upon completion of 5 years of service) for those
account balances and earnings.
* * * * *
Guy R. Traynor,
Chief,
Publications and Regulations Branch,
Legal Processing Division,
Associate
Chief Counsel
(Procedure and Admininstration).
Note
(Filed by the Office of the Federal Register on September 20, 2006,
8:45 a.m., and published in the issue of the Federal Register for September
21, 2006, 71 F.R. 55108)
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