IRS delays rules that could have forced public employees to retire later

The IRS has delayed until 2011 the implementation of regulations that could have affected the early retirement plans of Nevada state and local government employees.

The federal agency issued a bulletin on Friday delaying the “normal retirement age” regulations for government pensions. The IRS initially planned to adopt the rule for public pension plans in 2009-10.

The proposed rule could potentially prohibit many public pension plans, including those in Nevada, from allowing participants to retire and collect benefits earlier than age 55, with a preferred retirement age of 62.