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Waiver of 2009 Required Minimum Distributions: What Plan Sponsors Need to Consider Before November 30
by Hunton & Williams LLP - Richmond Office
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November 4, 2009
Previously published on October 2009
Recently, the Internal Revenue Service (the "Service") published much-needed guidance with respect to the permissible waiver of required minimum distributions ("RMDs") for the 2009 calendar year. In general, qualified retirement plans must require that participants who have reached the later of age 70˝ or separated from service begin receiving minimum distributions of their accrued benefits. The Worker, Retiree, and Employer Recovery Act of 2008 ("WRERA") provides that such minimum distributions are not required for 2009.
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