Use of excess DB plan assets for health care extended to 2025

2015-07-31T23:13:28-07:00July 31st, 2015|Categories: Defined Benefit Plans|Tags: , , , |

Excess defined benefit plan assets can now be used to pay for retiree health care and life insurance through 2025. President Barack Obama on Friday signed a short-term highway funding bill approved by the Senate Thursday and earlier in the week by the House that allows more time for using those assets. The highway bill provision adds four years to the expiration date of Internal Revenue Code Section 420(b), which allows defined benefit pension plans that would remain funded [...]