Present-Law Tax Rules Relating to Qualified Pension Plans : Scheduled for a Hearing Before the Subcommittee On Private Retirement Plans And Oversight of the Internal Revenue Service of the Senate Committee On Finance, On March 23, 1990 Jcs-9-90

Cover Present-Law Tax Rules Relating to Qualified Pension Plans : Scheduled for a Hearing Before the Subcommittee On Private Retirement Plans And Oversight of the Internal Revenue Service of the Senate Committee On Finance, On March 23, 1990 Jcs-9-90
Present-Law Tax Rules Relating to Qualified Pension Plans : Scheduled for a Hearing Before the Subcommittee On Private Retirement Plans And Oversight of the Internal Revenue Service of the Senate Committee On Finance, On March 23, 1990 Jcs-9-90
United States. Congress. Joint Committee On Taxation
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To quickly assess the difficulty of the text, read a short excerpt:

— The past service liability element repre- sents the cost of future benefits under the plan that will not be funded by future plan contributions to meet normal cost (1) on the date the plan is first effective, or (2) the date a plan amendment increasing plan benefits is first effective. Under some funding methods, there is no past service liability component.
Acceptable methods. — Normal cost and past service liability are key elements in computations under the minimum funding stand- ard. Alth
...ough these costs may differ substantially, depending upon the actuarial cost method used to value a plan's assets and liabil- ities, they must be determined under an actuarial cost method per- mitted by the Code. The Code enumerates 6 acceptable actuarial cost methods and provides that additional methods may be permit- ted under Treasury regulations. Normal costs and past service li- abilities under a plan are computed on the basis of an actuarial valuation of the assets and liabilities of a plan.

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