Stepnowski v. Comm'r
United States Tax Court
Hercules amended its defined benefit plan in 2001. The amendment to the plan's lump-sum payment option replaced the interest rate assumption that had previously been used to calculate the present value of a participant's accrued benefit with the annual interest rate on 30-year Treasury securities. Hercules filed a request for a determination that the amended plan met all of the qualification requirements that were in effect under sec. 401(a), I.R.C.
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Hercules amended its defined benefit plan in 2001. The amendment to the plan's lump-sum payment option replaced the interest rate assumption that had previously been used to calculate the present value of a participant's accrued benefit with the annual interest rate on 30-year Treasury securities. Hercules filed a request for a determination that the amended plan met all of the qualification requirements that were in effect under sec. 401(a), I.R.C. P, as an interested party, sent a letter to the IRS regarding Hercules' determination request. P asserted that the amendment to the plan's…
1Opinion of the Court
CHARLES P. STEPNOWSKI, Petitioner v. COMMISSIONER OF INTERNAL REVENUE AND HERCULES INCORPORATED, Respondents
Stepnowski v. Comm'r
No. 8383-03R
United States Tax Court
124 T.C. 198; 2005 U.S. Tax Ct. LEXIS 12; 124 T.C. No. 12; 35 Employee Benefits Cas. (BNA) 1593;
April 26, 2005, Filed
Hercules amended its defined benefit plan in 2001. The
amendment to the plan's lump-sum payment option replaced the
interest rate assumption that had previously been used to
calculate the present value of a participant's accrued benefit
with the annual interest rate on 30-year Treasury securities.
Hercules filed a request…
2Cases cited16 opinions
- Houston Lawyer Referral Service, Inc. v. CommissionerUnited States Tax Court · 1978
- R.H. Ashenbaugh v. Crucible Inc. 1975 Salaried Retirement PlanCourt of Appeals for the Third Circuit · 1988
- Thompson v. CommissionerUnited States Tax Court · 1978
- Armco, Inc. v. CommissionerUnited States Tax Court · 1986
- Nationalist Movement v. CommissionerCourt of Appeals for the Fifth Circuit · 1994
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