PA Pension Planners



GUST is an acronym for a series of laws passed since 1994 affecting qualified retirement plans. GUST stands for GATT (General Agreement on Tariffs and Trade–generally referred to as the Retirement Protection Act of 1994), USERRA (Uniformed Services Employment and Reemployment Rights Act of 1994), SBJPA (the Small Business Job Protection Act of 1996), TRA ’97 (Taxpayer Relief Act of 1997), and the IRS Restructuring and Reform Act of 1998.

GATT – GATT sets interest and mortality tables for purposes of determining lump sum distributions and the 415 limits for defined benefit plans. For defined contribution plans, GATT sets increments in cost of living increases in the $30,000 415 limit (i.e., the 415 limit rises in $5,000 increments).

USERRA – sets forth how contributions and service credit is handled when a participant is called up for military service. Loan payments may also be suspended during military service.

SBJPA – made many changes including:

TRA ’97 –

IRS Restructuring Act –

No early withdrawal penalty for IRS levy on a qualified plan.