We've been getting a steady stream of inquiries about what's going on with IRS Notice 2007-69, an obscure change to tax law that could impact public employee pension funds, depending on its interpretation.
The potentially far-reaching rule change alters tax law that defines the "normal" retirement age and could put some state and local public pension plans in legal peril.
Congress and Treasury Department officials met last month to talk over the changes. Representatives of several concerned organizations were in that meeting, including CalPERS' attorney Peter Mixon.
Treasury officials during that Sept. 19 meeting committed to pushing back the date that the notice would go into effect so that they would have more time to analyze its application to public funds or change the rule altogether.
The officials said that they would make a formal announcement clarifying their plans within two weeks of the Sept. 19 meeting. Friday marks three weeks.
In short, there's been no movement since our last report to you. We've been checking in regularly with our contact in Washington, D.C., Jeannine Markoe Raymond, director of Federal Relations for the National Association of State Retirement Administrators.
Her Wednesday e-mail to the State Worker: I was told to check in the "middle" of this week, so I'll ping in tomorrow.
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