Internal Revenue Service Announces Interest Rate for Late Premium Payments and Employer Liability Underpayments and Overpayments

Summary

The Internal Revenue Service (IRS) has established a new interest rate for late premium payments and employer liability underpayments and overpayments, effective October 1, 1994, and has also updated interest rates for valuing unfunded vested benefits for premium purposes, as per the Employee Retirement Income Security Act of 1974.