Internal Revenue Bulletin:  2009-40 

October 5, 2009 


Notice 2009-77 Notice 2009-77

Weighted average interest rate update; corporate bond indices; 30-year Treasury securities; segment rates. This notice contains updates for the corporate bond weighted average interest rate for plan years beginning in September 2009; the 24-month average segment rates; the funding transitional segment rates applicable for September 2009; and the minimum present value transitional rates for August 2009.

Rev. Proc. 2009-43 Rev. Proc. 2009-43

Revocation of elections by multiemployer defined benefit pension plans to freeze funded status under section 204 of WRERA. Section 204 of WRERA permits a plan to revoke the election to treat the plan as being funded at the prior year’s certified level with the approval of the Service. This procedure provides that the Service will automatically approve a revocation request if certain requirements are met, including a deadline for making a decision to revoke; notice to employees and other interested parties; and consistent treatment of participating employers during the plan year. The revenue procedure provides special rules for the automatic approval of revocation requests that are made pursuant to the resolution of arbitration. The revenue procedure also states that the Service will consider revocation requests that do not satisfy the standard for automatic approval if the requests are submitted in accordance with our usual ruling letter procedures. Notices 2009-31 and 2009-42 amplified.

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