Nearly one-third (32%) of individuals surveyed by Allianz Life Insurance Company of North America say they have difficulty understanding how required minimum distributions could impact their overall tax obligation.
The president on Friday signed an executive order directing the Treasury Department to reassess required minimum distributions from 401(k) plans and ordering DOL staff to explore the possibility of allowing small businesses to join open multiple employer plans.
A memo to examiners lists actions 403(b) plan sponsors should take to locate missing participants in order not to be challenged on violating RMD rules.