Tax News

CCH (cch.taxgroup.com) reports:

For pension plan years beginning in July 2007, the IRS has released the corporate bond weighted average interest rate and the permissible range of interest rates used to calculate current plan liability and to determine the required contribution under Code Sec. 412(l) for plan years through 2007. The corporate bond weighted average interest rate for plan years beginning in July 2007 is 5.83 percent; and the 90-percent to 100-percent permissible range is 5.25 percent to 5.83 percent. The annual rate of interest on 30-year Treasury securities for June 2007, used to determine the minimum present value of a participant's benefit under Code Sec. 417(e)(1) and (2), is 5.20 percent.
Notice 2007-61, 2007FED ¶46,554
Other References:
Code Sec. 412
CCH Reference - 2007FED ¶19,125.50
Tax Research Consultant
CCH Reference - TRC RETIRE: 30,170