July 10, 2008 at 01:16 PM
The Internal Revenue Service is implementing a provision of the Pension Protection Act of 2006 that could help government retirement plans.
The IRS has published a notice of proposed rulemaking regarding the change today in the Federal Register.
The proposed regulations would permit a government plan to comply with minimum retirement benefits distribution requirements by using a “reasonable and good faith interpretation of the statute,” officials write in a preamble to the proposed regulations.
The change is meant to help plans comply with the existing law and a series of regulations adopted since 2002.
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