excess pension assets
Defined in 1 place of the United States Code.
The term “excess pension assets” means the excess (if any) of—
(A) the amount determined under section 412(c)(7)(A)(ii), over
(B) the greater of—
(i) the amount determined under section 412(c)(7)(A)(i), or
(ii) 125 percent of current liability (as defined in section 412(c)(7)(B)).
The determination under this paragraph shall be made as of the most recent valuation date of the plan preceding the qualified transfer.
Source
- 1994–200626 U.S.C. § 420Internal Revenue Code · Transfers of excess pension assets to retiree health accounts · for purposes of this section
The term “excess pension assets” means the excess (if any) of—
(A) the lesser of—
(i) the fair market value of the plan's assets (reduced by the prefunding balance and funding standard carryover balance determined under section 430(f)), or
(ii) the value of plan assets as determined under section 430(g)(3) after reduction under section 430(f), over
(B) 125 percent of the sum of the funding shortfall and the target normal cost determined under section 430 for such plan year.
Source
- 2006–200726 U.S.C. § 420Internal Revenue Code · Transfers of excess pension assets to retiree health accounts · for purposes of this section
The term “excess pension assets” means the excess (if any) of—
(A) the lesser of—
(i) the fair market value of the plan's assets (reduced by the prefunding balance and funding standard carryover balance determined under section 430(f)), or
(ii) the value of plan assets as determined under section 430(g)(3) after reduction under section 430(f), over
(B) 125 percent of the sum of the funding target and the target normal cost determined under section 430 for such plan year.
Source
- 2007–present26 U.S.C. § 420Internal Revenue Code · Transfers of excess pension assets to retiree health accounts · for purposes of this section