Retirement provisions set to expire
The Joint Committee on Taxation has released JCX-20-09, which contains a list of Federal Tax provisions which expire from 2008 through to 2020. The following are some of the provisions that apply to IRAs and employer sponsored plans:
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Provision
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Covered Under …
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Scheduled Expiration Date
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Comments
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Allowance of additional IRA contributions in certain bankruptcy cases
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IRC § 219(b)(5)(C)
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12/31/09
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Waiver of minimum required distribution rules for IRAs and defined contribution plans.
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IRC § 401(a)(9)(H)
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12/31/09
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For details on this provision see Waiver of Required Minimum Distribution for 2009
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Tax-free distributions from individual retirement plans for charitable purposes.
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IRC § 408(d)(8))
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12/31/09
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For more on this provision see Donating Retirement Assets To Charities
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Use of single-employer defined benefit plan’s prior-year adjusted funding target
attainment percentage to determine application of limitation on benefit accruals
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§ 203 of Pub. L. No. 110-458
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12/31/09
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The provision applies to the first plan year that begins during the period beginning on October 1, 2008 and ending on September 30, 2009
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Delay of designation of multiemployer plans as in endangered or critical status.
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§ 204 0f Pub. L. No. 110- 458
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12/31/09
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The provision applies to the first plan year that begins during the period beginning on October 1, 2008 and ending on September 30, 2009
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Extension of funding improvement and rehabilitation periods for certain multiemployer pension plans.
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§ 205 of Pub. L. No. 110-458
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12/31/09
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The provision applies to plan years beginning during 2008 and 2009
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Refundable credit for government retirees
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2202 of Pub. L. No. 111-5)
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12/31/09
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Provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001.
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Pub. L. No. 107-16)
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12/31/10
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The sunset applies to all EGTRRA provisions otherwise in effect on the expiration date. Pub. L. No. 107-358 repealed the sunset contained in EGTRRA with respect to the exclusion from federal income tax for restitution received by victims of the Nazi Regime. The Pension Protection Act of 2006,
Pub. L. No. 109-280, repealed the sunset contained in EGTRRA with respect to the pension and IRA provisions contained in subtitles A through F of title VI of EGTRRA and with respect to the qualified tuition program provisions in section 402 of EGTRRA.
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Additional funding rules for multiemployer defined benefit pension plans in endangered or critical status
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§§ 432, and
sec. 221(c) of Pub. L. No. 109-280
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12/31/14
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A corresponding provision is contained in section 305 of ERISA that also expires on December 31, 2014
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Deemed approval of adoption, use or cessation of shortfall funding method for
multiemployer defined benefit pension plans
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§§ 201(b) and 221(c) of Pub. L.
No. 109-280)
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12/31/14
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