Plan Language, Waiver of 2020 Required Minimum Distributions under the CARES Act | Practical Law

Plan Language, Waiver of 2020 Required Minimum Distributions under the CARES Act | Practical Law

A Standard Clause for a plan document of a defined contribution plan under the Employee Retirement Income Security Act of 1974 (ERISA) providing for a waiver of 2020 required minimum distributions (RMDs) described in Internal Revenue Code (Code) Section 401(a)(9) under the CARES Act. Under the CARES Act, no RMDs were required to be paid for the 2020 plan year. Plans must be amended no later than the last day of the first plan year beginning on or after January 1, 2022 (January 1, 2024 for governmental plans).

Plan Language, Waiver of 2020 Required Minimum Distributions under the CARES Act

Practical Law Standard Clauses w-029-0693 (Approx. 6 pages)

Plan Language, Waiver of 2020 Required Minimum Distributions under the CARES Act

by Practical Law Employee Benefits & Executive Compensation
Maintained • USA (National/Federal)
A Standard Clause for a plan document of a defined contribution plan under the Employee Retirement Income Security Act of 1974 (ERISA) providing for a waiver of 2020 required minimum distributions (RMDs) described in Internal Revenue Code (Code) Section 401(a)(9) under the CARES Act. Under the CARES Act, no RMDs were required to be paid for the 2020 plan year. Plans must be amended no later than the last day of the first plan year beginning on or after January 1, 2022 (January 1, 2024 for governmental plans).