Internal Revenue Service
Revenue Ruling

TaxLinks.com   sm

 Rev. Rul. 76-76

1976-1 C.B. 106

Section 401 -- Pension Plans

IRS Headnote

Integration of benefits with social security; offset plans. Guidelines, for determining whether the benefits of an offset plan providing benefits in case of retirement or separation from employment before age 65 are properly integrated with social security benefits, are modified by reinstating section 11.012 of Rev. Rul. 71-446 provided the offset to any employee's benefit computed in accordance with that section complies with the requirements of section 401(a)(15) of the Code; Rev. Rul. 75-480 modified.

Full Text

Rev. Rul. 76-76 [fn1]

Section 1. Purpose.

The purpose of this Revenue Ruling is to modify, in part, Rev. Rul. 75-480, 1975-2 C.B. 131.

Sec. 2. Background Information.

Section 3.02 of Rev. Rul. 75-480 deleted section 11.012 of Rev. Rul. 71-446, 1971-2 C.B. 187. Sections 2.02 and 4.02 relate to section 3.02.

The Internal Revenue Service has reconsidered section 3.02 of Rev. Rul. 75-480 and has determined to restore section 11.012 of Rev. Rul. 71-446, but with the addition of a specific reference to the overriding requirements of section 401(a)(15) of the Code.

Sec. 3. Effect on Other Documents.

Rev. Rul. 75-480 is modified to remove sections 2.02, 3.02 and 4.02.

Section 11.012 of Rev. Rul. 71-446 is reinstated, provided that the offset to any employee's benefit computed in accordance with such section 11.012 also complies with the requirements of section 401(a)(15) of the Code.

[fn1] Based on TIR-1444, dated Feb. 11, 1976.