[14912]
July 11, 2002
TO: PENSION MEMBERS No. 32-02
PENSION OPERATIONS ADVISORY COMMITTEE No. 45-02
RE: TREASURY/IRS RELEASE 2002-2003 PRIORITY GUIDANCE PLAN
The Treasury Department and the Internal Revenue Service have released their “2002-
2003 Priority Guidance Plan.” The plan lists their priorities for tax regulations and other
administrative guidance for the July 2002 to June 2003 business plan year. The release notes
that the plan should not be viewed as an exclusive list of guidance that may be published this
plan year or as a list of matters that may ultimately result in the publication of guidance. The
release also indicates that Treasury and the IRS intend to update and republish the plan on a
quarterly basis to reflect guidance projects that may be subsequently added.
Notable pension-related items in the business plan include the following:
• Guidance under section 72(t) regarding substantially equal periodic payments;
• Final regulations relating to plan loans under section 72(p);
• Final regulations under section 401(a)(9) on required minimum distributions;
• Guidance relating to cash or deferred arrangements under sections 401(k) and 401(m);
• Guidance relating to annuity plans under section 403(b);
• Final regulations relating to the calculation of net income attributable to returned or
recharacterized IRA contributions;
• Guidance under section 408(d) regarding how to request the discretionary 60 day
rollover period related to disasters;
• Guidance under section 408(q) relating to deemed IRAs under qualified employer plans;
• Guidance relating to the application of section 411(d)(6);
• Guidance relating to the definition of a highly compensated employee;
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• Final regulations under section 414(v) on catch-up contributions;
• Guidance on disclosure to participants regarding their distributions from pension plans;
• Final regulations relating to the application of the retroactive annuity starting date
provisions under section 417(a)(7);
• Final regulations relating to section 457 plans;
• Guidance on reporting and withholding for section 457 plans; and
• Revenue procedure amending and restating the Employee Plans Compliance Resolution
System (EPCRS).
Additionally, Treasury and the IRS plan to issue final regulations under section 529
regarding qualified tuition programs.
Thomas T. Kim
Associate Counsel
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Attachment (in .pdf format)