Pension plan amendment guidance.

• Position: IRS Update - Brief Article

The IRS has issued Rev. Proc. 2005-23 to address the application of a recent Supreme Court decision relating to pension benefits, Central Laborers' Pension Fund v. Heinz, 541 U.S. 739 (June 7, 2004).

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ERISA generally prohibits amendments that impose additional conditions on the right to receive early retirement benefits for benefits accrued before the amendment. For plans with such amendments, the retroactive application of the Supreme...