PSERS Files with IRS for DC Plan Determination

An application is to be made to the Internal Revenue Service for an advance determination on the qualification of the following employee pension benefit plan.

The application will be filed on or before June 29, 2018 for an advance determination as to whether SEDCP meets the requirements of Section 401(a) of the Internal Revenue Code of 1986, as amended, with respect to the initial qualification of SEDCP.  The application will be filed with:

The employees eligible under this plan are: (1) public school employees, who first become an active member of the Commonwealth of Pennsylvania, Public School Employees' Retirement System (“PSERS”) on or after July 1, 2019 and participate in the SEDCP, and (2) active members of PSERS on July 1, 2019, who elect to participate in SEDCP for school service rendered on and after January 1, 2020.

The Internal Revenue Service has not previously issued a determination letter with respect to the qualification of SEDCP.

You may submit to the Internal Revenue Service, at the above address, either individually or jointly with other interested parties, your written comments as to whether SEDCP meets the qualification requirements of the Internal Revenue Code.