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Is a WBP Subject to the IRS Rules for Qualified Retirement Plans?

April 26, 2017IRS qualified retirement plans rules Subject wbp

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Is a WBP Subject to the IRS Rules for Qualified Retirement Plans?

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A WPB is not a qualified retirement plan subject to the rules of IRC §401. A WBP that provides post-retirement medical benefits, however, must coordinate its contributions for key employees with any contributions made to a defined contribution qualified retirement plan. IRC §415(c)(2) annual addition limits apply to the combined contribution(s).