TaxNewsFlash-Exempt Organizations

October 10, 2008
No. 2008-99

PRINTABLE VERSION

IRS Notice Extends Effective Date of Normal Retirement Age Regulations for Governmental Plans

The IRS today released an advance copy of Notice 2008-98 which announces that the Treasury and the IRS intend to extend the date by which a governmental plan must comply with the 2007 final regulations on distributions from a pension plan upon attainment of normal retirement age.

The final regulations were published in the Federal Register on May 22, 2007. Under the extension, the 2007 final regulations will be effective for a governmental plan (as defined under section 414(d)) for plan years beginning on or after January 1, 2011.

For an electronic version of today’s two-page notice: Notice 2008-98

Notice 2008-98 will appear in Internal Revenue Bulletin 2008-44, dated November 3, 2008.

For more information, contact Rick Speizman, National Partner-In-Charge, KPMG’s Exempt Organizations Tax Practice (ExoTax), at (202) 533-3084 or rspeizma@kpmg.com

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