News & Analysis as of

Retirement Plan › Pensions › Distribution Rules

Lerch, Early & Brewer

10% Tax for Early Withdrawal from IRA is not a Penalty Requiring an IRS Supervisor’s Approval

Lerch, Early & Brewer on

Grajales v. Commissioner - In Grajales v. Comm’r of Internal Revenue, the United States Court of Appeals for the Second Circuit addressed whether the ten percent exaction under Section 72(t) (Exaction) is considered a...more

Neal, Gerber & Eisenberg LLP

Client Alert: Raising the Curtain on the Next Act: SECURE ACT 2.0

Neal, Gerber & Eisenberg LLP on

Introduction - On December 29, 2022, the President signed into law the SECURE 2.0 Act of 2022 (“SECURE 2.0”). As its name suggests, SECURE 2.0 expands on actions taken by the original SECURE Act of 2019 (“SECURE 1.0”). ...more

Warner Norcross + Judd

[Webinar] Employee Benefits SECURE Act 2.0 Series - Part 2: Distribution Rule Revisions - April 12th, 12:00 pm - 1:00 pm ET

Warner Norcross + Judd on

Warner’s Employee Benefits Practice Group is pleased to present a webinar series on significant new retirement plan legislation, the SECURE Act 2.0. While we expect implementing the new law to take several years, some...more

Warner Norcross + Judd

[Webinar] Employee Benefits SECURE Act 2.0 Series - Part 1: Changes to Retirement Plan Eligibility and Contributions - March 28th,...

Warner Norcross + Judd on

Warner’s Employee Benefits Practice Group is pleased to present a webinar series on significant new retirement plan legislation, the SECURE Act 2.0. While we expect implementing the new law to take several years, some...more

Morgan Lewis - ML Benefits

IRS Guidance Clarifies Pandemic Rehiring Need Not Always Affect Retirement Benefits

Morgan Lewis - ML Benefits on

The IRS recently issued FAQs to address workforce issues and labor shortages resulting from the COVID-19 pandemic. The guidance seems to be in response to well-publicized labor shortages affecting schools and the education...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Lifts Barriers to Help Address Labor Shortage Due to COVID-19

Ogletree, Deakins, Nash, Smoak & Stewart,... on

As employers across the country are facing critical labor shortages, the Internal Revenue Service (IRS) has stepped in, attempting to help by removing barriers that may have previously stopped employers from rehiring retirees...more

Morgan Lewis - ML Benefits

PBGC Modernizes De Minimis Distribution Rates

Morgan Lewis - ML Benefits on

The Pension Benefit Guaranty Corporation (PBGC) published a final rule (Final Rule) on September 9 providing that effective January 1, 2021, it will use the interest and mortality assumptions under Internal Revenue Code...more

Stinson LLP

CARES Act Provides Much Needed Retirement Plan-Related Relief for Individuals and Employers Impacted by COVID-19

Stinson LLP on

On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which addresses the public economic and health crisis related to the 2019 novel coronavirus (COVID-19)....more

Morgan Lewis - ML Benefits

Revisiting Funding-Based Restrictions for Single-Employer Pension Plans

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Single employer defined benefit plans are required to comply with limitations on accelerated benefits payments, future benefit accruals, and implementation of benefit increases triggered by plan underfunding or plan sponsor...more

Seyfarth Shaw LLP

President Trump Signs SECURE Act into Law

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As part of the year-end government funding legislation, on December 20th, President Trump signed into law the Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act” or the “Act”). The Act contains...more

Foley & Lardner LLP

An Annual Retirement Plan “Check-Up” May be Just What the Doctor Ordered!

Foley & Lardner LLP on

February is Heart Health Month, which always reminds me to schedule my annual doctor checkup. This got me thinking that the need for ongoing “checkups” and maintenance applies not just to our health, but to our homes, cars,...more

Franczek P.C.

Treasury Makes it Easier for Pension Plans to Pay Partial Annuities

Franczek P.C. on

The Department of Treasury has issued final regulations that simplify the rules that allow retiring participants to simultaneously elect a partial lump sum and a partial annuity from a defined benefit pension plan. Under the...more

Snell & Wilmer

Now You Can Have Your Cake and Eat It Too: New Pension Distribution Rules Allow More Flexibility

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If you are one of the lucky few employees who participate in an employer’s defined benefit retirement plan, you previously had to choose between receiving your benefits in a lump sum or in annuity payments. However, in the...more

Franczek P.C.

IRS to Prohibit Lump-Sum Cashout Windows for Pension Plan Retirees

Franczek P.C. on

As described in a prior alert, the IRS issued Notice 2015-49, which abruptly announces the IRS’s intention to prohibit lump-sum cashout windows for pension plan retirees already in pay status. The IRS intends to prohibit...more

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