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Regulatory Updates
> IRS Proposes Rule for Good Faith Interpretation of Governmental Plan Minimum Distribution Rule
IRS Proposes Rule for Good Faith Interpretation of Governmental Plan Minimum Distribution Rule
The Internal Revenue Service (IRS) issued a
notice of proposed rulemaking
permitting governmental plans to use reasonable and good faith when complying with required minimum distribution rules. These rules will affect employers with governmental plans as well as administrators, beneficiaries and participants. Comments and public hearing requests must be received by October 8, 2008.
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