Rob Gauss Quoted in National Council on Teacher Retirement newsletter: "IRS Decides to Reopen Determination Letter Process on Limited Basis"

Ice Miller LLP partner Rob Gauss was quoted in the National Council on Teacher Retirement newsletter article, "IRS Decides to Reopen Determination Letter Process on Limited Basis."

The article included:

As explained by Rob Gauss with Ice Miller LLC, this limited expansion of the determination letter program with respect to individually designed plans, does not apply to governmental hybrid plans. Specifically, Rev. Proc. 2019-20 applies to "Statutory Hybrid Plans" under Code Section 411(a)(13)(C)(ii) and Treas. Reg. Section 1.411(a)(13)-1(d)(5). “Importantly, the requirements under Code Section 411 do not apply to governmental plans,” Gauss points out.

Also, to the extent that the new Revenue Procedure creates an expansion of the determination letter program for merged plans, “we think that this would have limited, if any, applicability to governmental plans,” he notes.

Nevertheless, Gauss and his Ice Miller colleagues “are cautiously optimistic that the IRS is continuing to consider the comments it has received regarding the determination letter program,” and he views the new announcement as “a positive development regarding the IRS' willingness to re-open the determination letter program in limited circumstances.”