Near-Term Impact of MAP-21 on Defined Benefit Plans

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The purpose of the Moving Ahead for Progress in the 21st Century Act (“MAP-21”) enacted July 6th was to authorize funds for Federal Highways, highway safety program, and transit programs, and for other purposes. “Other purposes” include pension funding stabilization, PGBC premiums, and transfers of excess pension assets. These new laws will ultimately reduce tax deductible contributions, as well as raise revenue by increasing corporate taxes and PBGC premiums. MAP-21 is effective for plan years beginning on or after January 1, 2012. Near-Term Impact of MAP-21 on Defined Benefit Plans

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Keiter CPAs is a certified public accounting firm serving the audittax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial servicesconstructionreal estatemanufacturingretail & distribution industries and nonprofits. We also provide business valuations and forensic accounting servicesfamily office services, and inbound international services.

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