On December 17, the IRS issued Notice 2011-3. This Notice provides guidance on single-employer defined benefit plan elections under the Pension Relief Act of 2010. The Notice provides that the deadline for electing to extend the amortization period is the latest of: (1) the last day of the plan year, (2) 30 days after the valuation date and (3) January 31, 2011.
So the election deadline for plan years ending December 31, 2010 and earlier is only about a month away. The biggest impact of the Pension Relief Act is probably for those years, since they include the first valuations after the 2008 stock market decreases.
