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PRC comments to IRS on revenue procedures related to recoupment (July 20, 2015)

Monday, July 20, 2015

The Pension Rights Center submitted comments to the Internal Revenue Service regarding Revenue Procedure 2015-27 and Revenue Procedure 2013-12, both of which address corrective action that pension plans should take when they overpay retirees. The Center discusses the financial hardships caused by "recoupment" -- when a plan overpays a retiree and demands repayment -- and offers suggestions for improving the process to protect retirees.

We blogged about Rev. Proc. 2015-27 back in April. For more information on this topic, read our fact sheet, What is Recoupment?