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Showing posts from June, 2014

IRS Issues Guidance on Windsor Decision for Qualified Retirement Plans

On April 4, 2014, the IRS issued  Notice 2014-19  which provides additional guidance on how qualified retirement plans should treat the marriages of same-sex couples following the June 26, 2013 Supreme Court’s ruling in United States v. Windsor. The Windsor decision invalidated Section 3 of the 1996 Defense of Marriage Act (DOMA) that barred same-sex couples from being treated as married under federal law. Subsequent to the Windsor decision, the IRS issued  Revenue Ruling 2013-17  which stated that a couple would be considered married for federal tax purposes if their marriage certificate was issued by a jurisdiction having the legal authority to sanction marriages. Moreover, once married, the IRS would consider the couple to be married, even if domiciled in a state that does not recognize same-sex marriages. Notice 2014-19 provides guidance on how to comply with the provisions of the Revenue Ruling. Specifically, the Notice provides guidance on the following: Plan operations must refl

2014 Retirement Plan Compliance Calendar

HANYS Benefit Services wants to help you stay compliant in 2014 with our  2014 Compliance Calendar . Compliance is just one of many services HBS provides, including Plan Design,Plan Provider Management, and Co-Fiduciary Services. If you have any questions regarding compliance requirements or their application to your plan, contact us at (800) 388-1963 or at hbs@ hanys.org .