Insurance Provider Obtains Approval for Innovative Pension Plan Design

An insurance provider obtained IRS approval on an innovative design for a phased retirement pension plan. Our firm ensured the IRS approval covered a plan design that balanced human resource concerns for a flexible workforce with minimal legal risk and feasible administration. Our firm also advised on the management of the pension plan's assets by a qualified professional asset manager (QPAM). This extended to the related relief for a failure to satisfy all QPAM conditions, including several years of extensions.