The IRS and the Department of Treasury are requesting comments on possible standards for determining if a retirement plan is a governmental plan under section 414(d) of the Internal Revenue Code.
Federal, state, local and Indian tribal governments and their employees are interested in this topic because the statutory rules that apply to governmental plans are different from those that apply to non-governmental plans.
The agencies released drafts of possible approaches to guidance in this area on Nov. 7. Comments are invited on these approaches, other possible approaches and other issues that should be taken into account. The IRS also plans to conduct meetings with interested taxpayers in different areas across the country.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
