CARES Act Retirement Plan Updates: Temporary Waiver of Required Minimum Distribution Rules

As a result of the CARES Act enacted on March 27, 2020, the required minimum distribution rules that previously began at age 70½ and now begin at age 72 are waived for the 2020 calendar year for defined contribution plans (such as 401(k) and 403(b) plans) and for IRAs.

For additional information contact Ed Wodarczyk.