Just when we were about to draft our blog reminding plans of the expiration of the temporary relief. . . The IRS has now issued Notice 2021-40 extending for another year the temporary relief from the requirement that spousal consent for plan distributions or loans be witnessed in person. As discussed in greater detail in … Continue Reading
The Ninth Circuit held that a participant’s brother, rather than his spouse, was the proper beneficiary of benefits under a profit sharing plan. In so holding, the Court found that: (a) the participant’s first wife, who was designated as the primary beneficiary, had waived her rights to benefits as part of the couple’s divorce; and … Continue Reading
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