Insurance Provider Obtains Approval for Innovative Pension Plan Design

United States - Minnesota

An insurance provider obtained IRS approval on an innovative design for a phased retirement pension plan. Faegre Baker Daniels ensured the IRS approval covered a plan design that balanced human resource concerns for a flexible workforce with minimal legal risk and feasible administration. FaegreBD 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.

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