April 9, 2020
By Steven A. Holt
ERISA and the Internal Revenue Code impose strict funding requirements on defined benefit pension plans. Recent IRS guidance gives sponsors of single-employer pension plans additional time to meet their 2020 funding obligations, including obligations to make quarterly plan contributions. The due date for any contributions otherwise due during 2020 is delayed until January 1, 2021. At that time, contributions due earlier in the year must be paid with interest. This relief does not apply to multiemployer defined benefit plans.