According to an article in Employee Benefit News, the IRS recently issued rules on retirement plan recognition of same-sex spouses. IRS Notice 2014-19 requires plans to recognize the same-sex spouse as a participant when providing various administrative functions, survivor benefits, spousal consent, RMDs, qualified domestic relations orders, and hardship withdrawals as of June 26, 2013. The ruling doesn’t require retroactive application of same-sex spouse rules prior to June 26, 2013 but retroactive application is an option for Plan sponsors. Plan sponsors with Plan terms that contradict the new rules regarding same-sex spouse recognition have until December 31, 2014 to amend the Plan.
Have you evaluated your Plan for compliance with the new regulations regarding same-sex spouses?