Plan Language, Plan Merger, Consolidation, or Transfer | Practical Law

Plan Language, Plan Merger, Consolidation, or Transfer | Practical Law

A Standard Clause reflecting Section 414(l) of the Internal Revenue Code (Code), which provides that a participant's retirement benefit after a merger must be at least equal to the participant's benefit immediately before the merger (the no-reduction rule).

Plan Language, Plan Merger, Consolidation, or Transfer

Practical Law Standard Clauses 0-523-9223 (Approx. 5 pages)

Plan Language, Plan Merger, Consolidation, or Transfer

by Practical Law Employee Benefits & Executive Compensation
MaintainedUSA (National/Federal)
A Standard Clause reflecting Section 414(l) of the Internal Revenue Code (Code), which provides that a participant's retirement benefit after a merger must be at least equal to the participant's benefit immediately before the merger (the no-reduction rule).