News & Analysis as of

Annuities Required Minimum Distributions

Chambliss, Bahner & Stophel, P.C.

A Win-Win Situation: How Charitable Gift Annuities Provide Benefits for Both Donor and Recipient

Are you looking for a way to decrease your income tax obligation after retirement while supporting your alma mater or a favorite charity? A charitable gift annuity may be the right answer for you....more

Faegre Drinker Biddle & Reath LLP

SECURE 2.0 Includes Several Changes Intended to Encourage the Use of Retirement Annuities

SECURE 2.0, which was included as part of the Consolidated Appropriations Act of 2023, was signed into law in late December 2022. The statute contains 92 substantive sections making reforms to a broad array of...more

Foley & Lardner LLP

401(k) Plans: The Push for Lifetime Income Options is About to Begin

Foley & Lardner LLP on

In a little more than 35 years, 401(k) plans have become the dominant employer-sponsored retirement plan. 401(k) plans place the investment risk and reward squarely on the participant. The employee’s ultimate benefit is...more

Burns & Levinson LLP

The SECURE Act – Considerations for January 2020

Burns & Levinson LLP on

Often times in a divorce matter, the two biggest assets the parties have are their house and retirement accounts. While everyone was busy with the recent holiday rush, President Trump signed the SECURE Act into law as part of...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

IRS proposes changes to life expectancy tables

People complain a lot about life these days, but one fun fact is that people are living longer than they did just 20 years ago. Thankfully, the Internal revenue Service (IRS) noticed too....more

Bracewell LLP

SECURE Act Provisions

Bracewell LLP on

Major changes in federal law are in the works that could significantly impact employers’ qualified retirement plans, which could require amending such plans to reflect mandatory and elective changes.  The U.S. House of...more

King & Spalding

Compensation and Benefits Insights - April 2019

King & Spalding on

IRS Re-Opens the Door to Retiree Lump Sum Windows - The IRS recently issued Notice 2019-18, reversing its prior position set forth in Notice 2015-49 that offering retirees in pay status the opportunity to elect a “cash...more

BCLP

IRS Takes Step Towards De-Risking Retiree Lump Sum Windows

BCLP on

On March 6, 2019, the IRS announced that it will not amend the minimum required distribution regulations under Code section 401(a)(9) to expressly prohibit lump-sum window elections for retirees who are already receiving...more

Snell & Wilmer

IRS Changes Course on Lump Sums to Retirees

Snell & Wilmer on

In Notice 2019-18, the Internal Revenue Service (the “IRS”) changed its position and now will permit employers to offer lump sum payments to retirees who are currently receiving annuity payments from a defined benefit plan....more

Eversheds Sutherland (US) LLP

IRS cracks open the window for retiree lump sums

On March 6, 2019, the Internal Revenue Service (IRS) issued Notice 2019-18 (Notice), announcing that it is retracting its previous position that prohibited pension plan sponsors from offering lump-sum cashouts to retirees who...more

Kilpatrick

IRS Reopens Retiree Lump Sum Windows

Kilpatrick on

In 2015, the IRS limited the de-risking options available to defined benefit pension plans by effectively prohibiting lump sum windows to retirees who are currently receiving annuity payments (known as “retiree lump sum...more

Eversheds Sutherland (US) LLP

It's Curtains for Some Lump-Sum Window Programs

On July 9, the Internal Revenue Service (IRS) released Notice 2015-49 to announce it intends to prohibit retirees who are receiving annuity payments from a defined benefit pension plan from electing a lump sum in lieu of the...more

Bradley Arant Boult Cummings LLP

IRS Changes Rules on Lump Sum Window Programs

The Internal Revenue Service (IRS) has surprisingly issued a notice of its intention to amend the required minimum distribution (RMD) regulations under the Internal Revenue Code (Code) to limit the use of lump sum payments to...more

Pillsbury Winthrop Shaw Pittman LLP

IRS Gives QLACs the Green Light: Final Regulations Issued

On July 1, 2014, the Internal Revenue Service (“IRS”) issued final regulations (“Final Regulations”) that permit employers and IRA providers to offer “qualified longevity annuity contracts” or “QLACs” under defined...more

Eversheds Sutherland (US) LLP

RMD Rules for Longevity Annuities Finalized

Longevity annuities are contracts that provide life annuity payments typically commencing at age 80 or 85; in many (but not all) cases, that is the only benefit the contract provides. As such, these contracts may offer...more

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