Retirement and Savings Initiatives

October 19, 2009
The Internal Revenue Service has issued a series of notices and revenue rulings designed to promote retirement savings and address technical issues related to certain plan distributions. These initiatives are intended to encourage employers to add automatic enrollment features to their 401(k) plans, enable employees to convert unused vacation into additional retirement savings, and assist both employers and employees to better understand the available options for distributions from tax-favored retirement savings. This update provides a brief summary of these announcements.