RMD Final and Proposed Regs

FYI, the IRS posted Public Inspection Documents from Internal Revenue Service for final regs and proposed regs.  Final regs are effective 60 days after they are posted in the Federal Register, and there is a comment period for the proposed regs that is open for 60 days after posting.

For your summer reading enjoyment, the final regs document has 260 pages, while the sequel in the proposed regs is a mere 36 pages.

Enjoy!

Links to both final and proposed regs available here.

If you want to save some trees, wait until tomorrow to print them out. At that time,  they will be published in the Feferal Register in three-cplumn format.

Lois Baker’s link now points to this morning’s Federal Register publication.

Many people here must be old enough to remember Readers Digest condensed books. That's what we need for the continuing barrage of Statutes, DOL and IRS regulation, etc.!

OMG  That is so true.😂

According to the ICI, there is $39,900,000,000,000 - yes, $39.9 trillion - in total retirement assets as of March 2024.  This is up almost $28 trillion from $11.6 trillion since the year 2000 (remember Y2K and the prediction of the end of the world as we know it?)

With all of that money and its impact on our economy, there is no way that Congress will stop meddling with retirement plans.  Our biggest challenge is the rapid pace of new legislation.  We have already reached a point where plans are being administered outside the terms of a formally adopted plan document and are relying on administrative intent to amend at a future date.  Added to that, Congressional tinkering with funding of regulatory agencies has added to the challenge of implementing legislative changes.  Further, with the passage of SECURE 2.0, several long-term practitioners decided that was the last straw and retired.

In a way, we suffer from our success.  While the challenges continue to mount for us as a profession and as an industry, our efforts are a significant factor to that success.

Release Quarterly Retirement Market Data First Quarter 2024.pdf