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Lump sum

IRS deepens focus on lifetime income with lump-sum ban

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The Internal Revenue Service's unexpected decision July 9 to ban lump-sum payments to retirees has plan sponsors keeping one eye open for further regulation but still considering those payouts for other plan participants.

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Some Lump-Sum Pension Buyouts Banned

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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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Retirement Plans At Every Employer! Is Your State Next?

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Paid sick leave, raising the minimum wage, commuter benefits. What’s next on the list of items employers are going to have to offer their employees? Retirement benefits.

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Curtailing Lump Sum Pension Payouts?

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I applaud the IRS and Treasury for clamping down on lump-sum pension payouts. America's pensions are in peril and the last thing it needs is more lump sum payouts which will exacerbate pension poverty.

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Treasury Curtails Lump Sum Pension Payouts

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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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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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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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