As explained in our July newsletter, President Obama signed the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 into law on June 25, 2010. Among other things, the Act allows sponsors of single-employer and multiple-employer defined benefit plans to elect alternative shortfall amortization schedules for certain years, and allows sponsors of multiemployer defined benefit plans to use special funding rules for certain years, as well. On July 31, the IRS released two notices, Notice 2010-55 and Notice 2010-56, clarifying that plan sponsors may elect to apply the alternative amortization schedules and special funding rules to a plan year even if they already have filed a Form 5500 for that plan year.