OMB’s Office of Information and Regulatory Affairs (OIRA) completed its review of U.S. Treasury Department regulations that would update the life expectancy tables that apply for purposes of computing minimum required distributions from qualified retirement plans under section 401(a)(9).
Treasury regulations that are identified as “major” regulations are subject to review by OMB’s OIRA before being issued, pursuant to Executive Order 13771.
According to OIRA, review the following proposed regulations was completed on October 21, 2019:
The proposed regulations are further described on the OIRA website, as follows:
The regulations will update the life expectancy tables that apply for purposes of computing minimum required distributions from qualified retirement plans to more accurately reflect life expectancies based on the latest available empirical data.
Now that OIRA review has been completed, Treasury and the IRS can be expected to release these proposed regulations (the timing of their release is not known).
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