The Internal Revenue Service published Notice 2020-61, providing technical guidance on the special rules relating to funding of single-employer defined benefit (DB) pension plans and related benefit restrictions under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The Notice includes 18 detailed questions and answers anticipating technical issues for permissible delayed (aka “extended due date”) DB plan contributions and other changes for these pension plans under the CARES Act.
IRS Notice 2020-61: IRS Guidance on Special Funding and Benefit Limitation Rules for Single-Employer Defined Benefit Plans under the CARES Act
ByMilliman Employee Benefits Research Group
21 August 2020
IRS Notice 2020-61: IRS Guidance on Special Funding and Benefit Limitation Rules for Single-Employer Defined Benefit Plans under the CARES Act