Thursday, April 17, 2014

LGBT News - Qualified Retirement Plans Post Windsor

The IRS has release long awaited guidance to administrators to qualified retirement plans. See Notice 2014-19 .  All qualified retirement plans  in states where same sex marriage is recognized is must recognize that marriage for retirement plan purposes no later than June 26, 2014, the date of the Windsor decision.  As of September 16, 2013, all plans must recognize valid same-sex marriages regardless of whether the participant’s state of domicile recognizes the marriage. The September 16 date is when the IRS released a ruling stating that spouse, husband, wife, and marriage for purposes of the Internal Revenue Code have to be interpreted to include same sex marriages.  See  Rev. Rul. 2013-17.  Given the Obama administration's unwillingness to extend itself on same sex marriage during his first term, the pace of change in the second term is breath taking.