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requirements of section 410(b) in the plan year ended June 30,
1991, since they were no longer in existence.
Respondent argues that the Pension Plan was not terminated
as of June 30, 1988, because statutory requirements were not
followed, and the Money Purchase Plan was not terminated as of
the end of the same year because Products did not intend to
terminate it then. Thus, according to respondent, it follows
that both the Pension Plan and the Money Purchase Plan
(predecessor of the Profit Sharing Plan) were ongoing plans
through the plan year ending June 30, 1991, and were required to
meet the requirements of sections 401(a)(26) and 410(b).
A. Pension Plan Termination
For purposes of the Internal Revenue Code, if a plan is
covered by title IV of the Employee Retirement Income Security
Act of 1974 (ERISA), Pub. L. 93-406, 88 Stat. 829, such plan is
"considered terminated on a particular date if, as of that date--
(i) The plan is voluntarily terminated by the plan administrator
under section 4041 of the Employee Retirement Income Security Act
of 1974". Sec. 1.411(d)-2(c)(2), Income Tax Regs. (Emphasis
added.) ERISA governs pension plan terminations. ERISA sec.
4021, 29 U.S.C. sec. 1321(a), provides that title IV covers a
plan which "is an employee benefit pension plan * * * [or] is, or
has been determined by the Secretary of the Treasury to be, a
plan described in section 401(a) of title 26". In this case, the
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