Many traditional defined benefit plans, such as final average pay plans, offer a lump sum distribution as an optional form of benefit. The amount of the lump sum distribution is sensitive to the applicable interest rate...more
IRS Notice 2020-51, released last week, provides additional guidance on the waiver in 2020 of required minimum distributions (RMDs) from defined contribution retirement plans and IRAs, and the interaction of this waiver with...more
7/8/2020
/ Benefit Plan Sponsors ,
CARES Act ,
Coronavirus/COVID-19 ,
Distribution Rules ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
IRA Rollovers ,
IRS ,
New Guidance ,
Popular ,
Required Minimum Distributions ,
Retirement Plan Beneficiaries ,
SECURE Act ,
Waivers
The final rule has implications for plan sponsors and may impact certain relationships with service providers.
On April 6, after a long (and some might say tortured) process, the US Department of Labor (DOL) issued a...more
6/14/2016
/ Benefit Plan Sponsors ,
Best Interest Contract Exemptions ,
Best Interest Standard ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Exceptions ,
Fiduciary Duty ,
Final Rules ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Retirement Plan