The “combined plan limit,” which caps benefits payable under tax-qualified retirement plans, has been repealed, generally effective Jan. 1, 2000. This repeal may provide an opportunity to pay additional retirement benefits to executives from overfunded defined benefit plans; protect the benefits from the employers’ creditors; reduce Social Security taxes; and allow employees to roll over larger distributions tax-free to an Individual Retirement Account (IRA).
TAX-QUALIFIED PLANS
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