Charles P. Stepnowski v. Commissioner

124 T.C. No. 12

UNITED STATES TAX COURT CHARLES P. STEPNOWSKI, Petitioner v. COMMISSIONER OF INTERNAL REVENUE AND HERCULES INCORPORATED, Respondents Docket No. 8383-03R. Filed April 26, 2005. 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…