Par. 8. In § 1.401(a)(4)-12, add definitions for Closed defined benefit plan, Closure amendment, Closure date, and Grandfathered group of employees in alphabetical order to read as follows:
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Closed defined benefit plan. Closed defined benefit plan means a defined benefit plan that has been amended to—
(1) Cease accruals under a benefit formula provided by the defined benefit plan for some or all employees whose benefits were previously determined under that benefit formula; or
(2) Limit participation in the defined benefit plan to a group of employees that consists of some or all of the plan participants who participated in the plan as of the closure date.
Closure amendment. A closure amendment is a plan amendment that results in a closed defined benefit plan.
Closure date. A closure date is the last day before accruals cease or participation is limited pursuant to the closure amendment.
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Grandfathered group of employees. A grandfathered group of employees with respect to a closure amendment means the group of employees who, after the closure date, either continue accruals under the closed defined benefit plan's benefit formula or are entitled to an allocation formula under a defined contribution plan because those employees previously participated in the closed defined benefit plan.
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