ASPPA, COPA Weigh In On Proposed Hybrid Regs

Experts at the American Society of Pension Professionals & Actuaries and the College of Pension Actuaries have submitted detailed comments on proposed hybrid pension plan regulations.

The draft, released by the Internal Revenue Service in December 2007, would give guidelines for employers that want to allocate defined benefit pension benefits one year at a time, rather than using formulas that assume an employee will stay at the employer for many years.

The proposed IRS regulations “are a welcome step for practitioners who must implement and administer hybrid defined benefit pension plans,” members of the defined benefit subcommittee at ASPPA, Arlington, Va., and representatives of COPA, Oak Brook, Ill., write in the comments.