Applicability of Normal Retirement Age to Governmental Plans

Notice 2012-29 announces that the IRS anticipates issuing guidance relating to the applicability of the normal retirement age rules to governmental plans.

Document Excerpt

The IRS and the Treasury Department anticipate issuing guidance relating to the applicability of the normal retirement age rules to governmental plans (as defined in §414(d)). This notice describes and invites public comment on the guidance under consideration, which (a) would clarify that governmental plans that do not provide for inservice distributions before age 62 do not need to have a definition of normal retirement age and (b) would modify the age-50 safe harbor rule for qualified public safety employees. The notice also provides that the IRS and Treasury Department intend to extend the effective date of the regulations relating to distributions from a pension plan upon attainment of normal retirement age for governmental plans.

 

Link http://www.irs.gov/pub/irs-drop/n-12-29.pdf

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