We covered the history and statutory framework of required minimum distributions and the increase in the triggering age for RMDs in Part 1 of 3 of our SECURE 2.0 RMD blogposts. We will cover the changes to rules on annuities to promote lifetime income distribution options in a future blogpost. In this post, we discuss a potpourri of changes made to the ...
On Monday, April 10, President Biden on Monday signed a bill which immediately ended the Covid-19 National Emergency, first enacted during the Trump administration in 2020. The National Emergency (“NE”) and COVID-19 Public Health Emergency (“PHE”) have been in place since early 2020, and gave the federal government flexibility to ...
The rules behind required minimum distributions (RMDs) are changing again, and this is not that end. Section 401(a)(9) was enacted in 1984, and for 35 years remained mostly unchanged. Generally, participants were permitted to delay distributions from qualified plans, 403(b) and governmental 457(b) plans until April 1 after the year in which ...