By Roberta Watson, Barry Salkin and Alex Olsen The SECURE Act 2.0 of 2022 (“SECURE 2.0”, or the “Act”) became law as part of the Consolidated Appropriations Act of 2023. SECURE 2.0 builds on the Setting Every Community Up for Retirement Enhancement Act of 2019 (i.e.,...
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IRS Issues Important Guidance with Respect to Required Minimum Distribution Regulations
IRS Issues Important Guidance with Respect to Required Minimum Distribution Regulations – Marcia Wagner, 401(k) Advisor, November-December, 2022
IRS Issues Important Guidance with respect to Required Minimum Distribution Regulations
By Jon Schultze and Barry Salkin The SECURE Act made significant revisions to the required minimum distribution rules under Internal Revenue Code (“Code”) Section 401(a)(9) that apply to defined contribution and 403(b) plans, individual retirement accounts and...
Required Minimum Distribution Modifications Applicable to Defined Benefit Plans as Well
While most of the attention was on how the IRS’s proposed regulation would address tax-qualified defined contribution plans and IRAs, the IRS also took the opportunity to update the existing regulations for tax-qualified defined benefit plans. One such issue is the...
IRS Issues Proposed Regulations for Required Minimum Distributions Under the SECURE Act
The SECURE Act (the “Act”) made two major changes to the required minimum distribution rules under Internal Revenue Code (“Code”) Section 401(a)(9): it extended the required beginning date for distributions from age 70-1/2 to age 72, other than distributions from...