Language for SEPP | Ed Slott and Company, LLC

Language for SEPP

In looking at some analysis on SEPPs in the Kleinrock publications, I came across a reference to the notion that an SEPP may provide for cost-of-living increases and that as long as these are contemplated at the outset they will not constitute a modification. However, I have not come across the appropriate language to do this, and am wondering if anyone knows where I might find an example.

There are some PLRs that allow re-calculation of the payment each year (the then current age, interest rate, account balance). Some custodians are allowing this. Al

The are also some PLRs from the mid-1990's that specifically created SPP plans that had fixed ro relative cost-of-living adjustments in them; e.g. 3% increases per year. None of this nature have been issued since the issuance of Reve, Rule 2002-62. I would suspect that such a plan would be approved but one would need to sptep up to the plate and pay the fees for a new PLR on this subject. TheBadger

Badger - have you gotten any feedback from IRS on the recent PLR as far as transferring an entire SEPP IRA from one custodian to another "shell" IRA (no additions or subtractions) with another custodian. Al

Not yet; however, I do expect a reply from the IRS in the next 30 days. As soon as I have it I will write an analysis of whatever I get and post it @ TheBadger

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