Last week the Treasury Department and IRS issued Notice 2019-49 which extends nondiscrimination relief for closed defined benefit plans which was originally provided in Notice 2014-5. The relief is extended to plan years beginning before 2021 if certain conditions outlined in the notice are satisfied.
This extension is especially important since permanent legislative relief in the SECURE Act is currently stalled in the Senate.
If you have questions about the extension of the temporary relief or the permanent legislative relief, please do not hesitate to contact me.
Article by Aliya Robinson, Senior Vice President of Retirement Policy