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De-risking

Some Lump-Sum Pension Buyouts Banned

News Item

The IRS and U.S. Treasury Department have banned lump-sum pension buyouts, like the ones offered to GM and Ford retired employees, starting July 9, 2015, according to a notice from the two agencies.

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Treasury Curtails Lump Sum Pension Payouts

News Item

In a sudden move, the Treasury Department said it will stop allowing employers to offer certain workers the option to take out their pensions in a lump sum. Notice 2015-49, Use of Lump Sum Payments to Replace Lifetime Income Being Received By Retirees Under Defined Benefit Pension Plans, applies as of July 9, 2015.

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IRS, Treasury Halt Lump-Sum Buyouts for Retirees Getting a Pension

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The Treasury Department and Internal Revenue Service amended Treasury regulations last week to stop companies from offering lump-sum buyouts to retirees who already receive a monthly pension.

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Pension advocate backs IRS rule banning annuity conversions to lump sums

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A new IRS and Treasury Department ban on employers offering pension plan participants currently receiving monthly annuity benefits the option to convert their benefit to a cash lump sum was needed to protect retirees, a consumer advocacy group says.

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Pension Rights Center Applauds Treasury Department/IRS for Protecting Retirees by Banning Lump-Sum Buyout Offers

News Release

WASHINGTON – In a welcome move by the Department of the Treasury and the IRS, the agencies released last week a notice to amend Treasury regulations to stop companies from offering lump-sum buyouts to retirees who are already receiving a monthly pension.

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Conn. Passes Protection for Transferred Pension Assets

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Connecticut Governor Dannel Malloy signed Public Act 15-167 into law, bringing additional protections to retirees’ assets from creditor claims.

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Private pension funding drops to lowest level in 6 years

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Even as stock market rose last year, pension funding levels at America's biggest companies in 2014 fell to levels not seen since just after the financial crisis.

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Pension Plan De-risking: Is It Bad, Is It Legal, Can It Be Stopped, Slowed, or Moderated?

Publication

Norman Stein, the Pension Rights Center's senior policy advisor, authored this policy paper [PDF] on pension plan de-risking.

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Two States Consider De-Risking Legislation; Insurance Lawmaker Group Adopts Guidelines

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As more companies offload their defined benefit pension obligations to insurance companies in multibillion-dollar transactions, legislators in some states are starting to take notice and to consider laws that are aimed at protecting retirees.

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8 Questions To Ask Before Taking A Pension Lump Sum Offer

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When it comes to analyzing a lump sum pension offer, employees need more help. That’s the conclusion of a new Government Accountability Office report, Participants Need Better Information When Offered Lump Sums That Replace Their Lifetime Benefits.

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