Opinion ID: 675256
Heading Depth: 2
Heading Rank: 2

Heading: The Cordis Retirement Plan and 26 C.F.R. Sec. 1.411(d)-4

Text: 15 The Retirement Plan did not select one of the transition alternatives provided by 26 C.F.R. Sec. 1.411(d)-4, and the regulation's requirements became effective for the plan on July 1, 1989. Williams argues that the Committee's action in denying his claim for a lump sum distribution did not become final until the Committee issued its letter dated July 5, 1989, four days after 26 C.F.R. Sec. 1.411(d)-4 became effective with respect to the Retirement Plan. 16 Williams argues that despite the regulation's prohibition on the exercise of discretion in the denial of optional benefits, the Committee's letter explicitly states that the Committee was exercising its discretion in denying his claim for a lump sum distribution. Thus, Williams argues that the Committee's denial violates 26 C.F.R. Sec. 1.411(d)-4. Williams maintains that this is not a retroactive application of 26 C.F.R. Sec. 1.411(d)-4 to his claim because the Committee's decision and action came only after the regulation took effect. The defendants contend that the regulation should not apply because it took effect after Williams's termination and applying it to Williams would improperly apply it retroactively. 17