Monica Novak, Kristina Ferris Salamoun, Author at Spotlight on Benefits

Author: Kristina Ferris Salamoun

Kristina F. Salamoun counsels clients who provide qualified health and retirement plans on plan design and administration. Kristina assists benefit plan clients with compliance with ERISA, the Internal Revenue Code and other applicable laws, including COBRA, HIPAA, PPACA and SECURE Act. She advises plan sponsors and administrators on fiduciary matters and various government reporting and filing requirements. Kristina also negotiates and reviews service-provider contracts for employee benefit plans and drafts key documents such as summary plan descriptions, plan and trust amendments, and plan policies. In addition, she manages client responses to government investigations, and provides advice on the review of qualified domestic relations orders (QDROs), power of attorney documents, subpoenas and subrogation matters.

The Internal Revenue Service (IRS) has issued final regulations for required minimum distributions (RMDs) from certain retirement plans, including tax-qualified plans, Internal Revenue Code (Code) section 403(b) plans, individual retirement accounts (IRAs) and Code section 457(b) eligible deferred compensation plans. The regulations implement changes put into law by the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) and the SECURE 2.0 Act of 2022 (SECURE 2.0).

The final regulations apply for distribution calendar years beginning on or after January 1, 2025. However, as some of the RMD changes addressed in the final regulations already have taken effect in accordance with the effective dates set forth in the SECURE Act and SECURE 2.0, plan sponsors should review current plan operations for compliance.

Continue reading “Final Regulations Issued on Required Minimum Distributions Under SECURE Act”