News & Analysis as of

Defined Contribution Plans Required Minimum Distributions

Patterson Belknap Webb & Tyler LLP

Extended Relief for Required Minimum Distributions in 2024

Five years ago, the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) made several significant changes to certain distributions required pursuant to Internal Revenue Code (“Code”) Section...more

Verrill

SECURE 2.0 Provisions with 2024 Implementation Dates

Verrill on

This post summarizes provisions of SECURE 2.0 that retirement plans may need or want to implement for 2024. While no amendments are required for plans heading into 2024, plan operations may see some updates, especially if the...more

Schwabe, Williamson & Wyatt PC

IRS Releases Retirement Plan Limits for 2024 Plan Year

November 7, 2023 Employer update Of Counsel With the release of IRS Notice 2023-75, we now know the retirement plan limits for Plan Years starting January 1, 2024. The chart below details the changes made to the limits....more

Faegre Drinker Biddle & Reath LLP

SECURE 2.0 Adds New Distribution Options for Defined Contribution Plans

SECURE 2.0 introduced several new distribution options and tax reporting rules for defined contribution plan sponsors. Below is an overview of the new provisions and their potential implementation dates...more

Morgan Lewis - ML Benefits

Post-Death Required Minimum Distribution Relief in 2021 and 2022 Under 10-Year Rule

In response to confusion regarding the “10-Year Rule” that was added to the required minimum distribution (RMD) rules by the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), the US Internal...more

Morgan Lewis - ML Benefits

Procrastinators Rejoice: IRS Extends Most SECURE Act and CARES Act Amendment Deadlines

The Internal Revenue Service (IRS) provided a late summer gift to retirement plan sponsors by extending some year-end plan amendment deadlines. In Notice 2022-33, the IRS extended the remedial amendment deadlines for certain...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - March 2022

In the March Monthly Minute, we review IRS proposed regulations implementing the SECURE Act, DOL guidance on cryptocurrency investments, and the extended National Emergency “Outbreak Period” guidance. Crypto-Curious vs....more

Faegre Drinker Biddle & Reath LLP

SECURE Act 2.0: What Defined Contribution Plan Sponsors Need to Know

With SECURE Act 1.0 (officially titled “Setting Every Community Up for Retirement Enhancement Act”) still being implemented by many plan sponsors, Congress is now considering a new package of laws designed to help close the...more

Bowditch & Dewey

2020 End of Year Tax Planning for Individuals

Bowditch & Dewey on

As the 2020 year draws to a close, families should review with their tax advisers the CARES Act tax-related provisions in their tax and financial planning. Tax provisions that apply to individuals include the following: ...more

Lathrop GPM

August 31 Deadline for RMD Rollovers

Lathrop GPM on

The SECURE Act increased the age at which Required Minimum Distributions (RMDs) must be made from 70-1/2 to 72. The CARES Act waived RMDs for 2020 (including initial RMDs that would have normally been required by April 1,...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Don’t forget that the RMD Rules are different for 2020

While the 4 Questions during the Passover holiday asks why this night is different than all other nights, the Internal Revenue Service (IRS) has reminded us that this year for required minimum distributions (RMDs) are...more

Tucker Arensberg, P.C.

Additional Flexibility for Required Minimum Distributions (RMDs) Taken During 2020

Tucker Arensberg, P.C. on

The CARES Act suspended the required minimum distribution (RMD) rules for DC plans and IRAs for 2020 for those past age 70½ (or those past age 72 under new rules). If you have already taken a RMD for 2020 from a DC plan and...more

Kilpatrick

Questions on 2020 Required Minimum Distributions Answered in New IRS Guidance

Kilpatrick on

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), enacted on March 27, 2020, to provide relief from the coronavirus pandemic, allowed defined contribution plans, participants in those plans, and owners of...more

Groom Law Group, Chartered

IRS Guidance on 2020 Required Minimum Distribution Waivers and More

On June 23, the Internal Revenue Service (“IRS”) issued Notice 2020-51, which provides much-needed guidance on how defined contribution plans (including 403(b) and governmental 457(b) plans) and IRAs implement the waiver of...more

Faegre Drinker Biddle & Reath LLP

CARES Act Required Minimum Distribution Rules: Helping Your Clients Deal with the Issues

This post outlines CARES Act provisions that affect your plan sponsor clients, plan participants and IRA clients, so you can help them navigate the new rules. This post addresses the rules on required minimum distributions...more

Troutman Pepper

The SECURE Act: Significant Changes for Retirement Plans and IRAs

Troutman Pepper on

Pepper Hamilton partner Paul L. Porretta and Troutman Sanders partner Mamta K. Shah recently hosted a webinar to discuss the Setting Every Community Up for Retirement Enhancement Act of 2019, better known as the SECURE Act,...more

Buckingham, Doolittle & Burroughs, LLC

The Secure Act | How SECURE are you in your estate plan? (video transcript)

In this transcript of the video below, attorneys Ron Wayne and Sarah Blank discuss the SECURE Act and the key provisions that may affect you....more

Buckingham, Doolittle & Burroughs, LLC

The Secure Act | How secure are you in your estate plan?

In this brief video, attorneys Ron Wayne and Sarah Blank discuss the SECURE Act and the key provisions that may affect you....more

Morgan Lewis - ML Benefits

SECURE Act May Pave Way to More Lifetime Income Opportunities in Defined Contribution Plans

Ever since defined contribution plans have come to dominate the retirement plan landscape, both plan sponsors and policymakers have grappled with how to help employees take a lifetime’s worth of savings and convert it into a...more

Groom Law Group, Chartered

Lifetime Income Provisions Under the SECURE Act

As the U.S. private retirement system has largely shifted away from traditional pensions in favor of a defined contribution plan savings model, a number of policymakers have expressed concerns over whether participants’...more

Epstein Becker & Green

What Employers Should Know About Distributions Under the SECURE Act

The Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”), the sweeping tax legislation that was signed into law on December 20, 2019, includes provisions that amend various sections of the Internal...more

Foley & Lardner LLP

The SECURE Act: Top 3 Issues to Consider Now

Foley & Lardner LLP on

Hundreds of articles have been published over the last two weeks about the SECURE Act (“Act”), which was signed into law in late December as part of the most recent budget bill. As you are certainly aware by now, the Act...more

Poyner Spruill LLP

Now That We Are SECURE - The SECURE Act brings important changes to retirement plans

Poyner Spruill LLP on

On December 20, 2019, President Trump signed into law the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act” or “Act”), which is primarily intended to help Americans save for retirement.  In a...more

Holland & Knight LLP

An Overview of Employee Benefit Provisions in the Newly Enacted SECURE Act

Holland & Knight LLP on

After being approved by both the U.S. House of Representatives and the Senate, the Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) was signed into law by President Donald Trump on Dec. 20, 2019, as...more

Proskauer - Employee Benefits & Executive...

New Year, New World: A Short Guide to the SECURE Act for Retirement Plan Sponsors and Administrators

The SECURE Act, included as part of the Further Consolidated Appropriations Act, 2020, was signed into law on December 20, 2019. This new law contains many significant changes that may impact employer-sponsored benefit plans....more

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