Internal Revenue Bulletin:  2012-50 

December 10, 2012 

EMPLOYEE PLANS


Notice 2012-67 Notice 2012-67

2013 cost-of-living adjustments; retirements plans, etc. This notice sets forth certain cost-of-living adjustments effective January 1, 2013, applicable to the dollar limitations on benefits and contributions under qualified retirement plans. Other limitations applicable to deferred compensation plans are also affected by these adjustments under section 415 of the Code. The limitations that are adjusted by reference to section 415(d) generally will change for 2013 because the increase in the cost-of-living index met the statutory thresholds that trigger their adjustment. This notice also contains cost-of-living adjustments for several pension-related amounts in restating the data in IR-2012-77 issued October 18, 2012.

Rev. Proc. 2012-50 Rev. Proc. 2012-50

Modification of Revenue Procedure 2007-44. This procedure modifies Rev. Proc. 2007-44, 2007-2 C.B. 54, to provide under section 401 of the Code that the sponsor of an individually designed governmental plan may elect Cycle E (instead of C) as the second remedial amendment cycle for the plan by filing a determination letter application for the plan during the one year submission period for the second Cycle E (February 1, 2015 through January 31, 2016) instead of Cycle C (February 1, 2013 through January 31, 2014). This modification applies only to the second remedial amendment cycle. Rev. Proc. 2007-44 modified.


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