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Pension challenges in bankruptcy and restructuring processes

This is an extract from Financier Worldwide's August online publication entitled "Pension challenges in bankruptcy and restructuring processes."

REFLECTING ON THE LAST FEW YEARS, HOW WOULD YOU DESCRIBE OVERALL PENSION CHALLENGES ARISING FOR COMPANIES FACING BANKRUPTCY / INSOLVENCY AND RESTRUCTURING PROCESS? WHAT MAJOR TRENDS HAVE DEFINED THIS SPACE?

United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Macfarlanes LLP, Defined benefit pension plan, The Pensions Regulator (UK), Pension Protection Fund
IRS issues final regulations amending the prohibited payment option under single-employer defined benefit plan of plan sponsor in bankruptcy

The IRS issued final regulations providing a limited exception to the anti-cutback rules under Code section 411(d)(6) for a plan sponsor that is a debtor in a bankruptcy proceeding. The anti-cutback rules generally prohibit amendments to qualified retirement plans that reduce or eliminate accrued benefits, early retirement benefits, retirement-type subsidies or optional forms of benefits.

USA, Employee Benefits & Pensions, Insolvency & Restructuring, Tax, Reinhart Boerner Van Deuren SC, Debtor, Retirement, Subsidy, Defined benefit pension plan, Internal Revenue Service (USA)
IRS proposes changes to anti-cutback regulations permitting elimination of lump sum distributions under a single-employer defined benefit plan of plan sponsor in bankruptcy

The IRS issued proposed regulations providing a limited exception to the anti-cutback rules under Code section 411(d)(6) for a plan sponsor that is a debtor in a bankruptcy proceeding. The anti-cutback rules generally prohibit amendments to qualified retirement plans that reduce or eliminate accrued benefits, early retirement benefits, retirement-type subsidies or optional forms of benefits.

USA, Employee Benefits & Pensions, Insolvency & Restructuring, Tax, Reinhart Boerner Van Deuren SC, Retirement, Defined benefit pension plan, Internal Revenue Service (USA)