Washington (April 14, 2004) --The Treasury Department and the Internal Revenue Service have issued a new interest rate for pension plan funding.
The new rate implements the Pension Funding Equity Act of 2004, signed by President Bush on April 10. Under prior law, the pension funding interest rate was based on the 30-year Treasury bond. The Pension Funding Equity Act replaces the 30-year Treasury bond rate with a new rate based on high-quality, long-term corporate bonds, as specified by the Secretary of the Treasury.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access