New IRS Proposal Eases Retirement Plan Distribution
Human Resource Executive (03/15/01) Vol. 15, No. 4 p.10; Dore, Cheryl

The Internal Revenue Service has proposed new retirement rules that will allow retirement plan administrators to calculate account distributions based on age and the account's balance every year after the owner reaches the age of 70.5. In addition, beneficiaries can be determined up to one year after the owner's death. The new rules, which are under review and take effect on Jan. 1, 2002, will allow families to maximize their retirement account balance in estate planning.


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