Month: August 2022
PRC Recommendations to IRS on Agenda Items for the 2022-2023 IRS Priority Guidance Plan
The Pension Rights Center submitted comments to the IRS requesting the agency to include in its Priority Guidance Plan several items to better protect consumers, including: (a) directing plans to provide former employees who leave before retirement with a single complete statement of their earned benefits ; (b) asking the agency to rethink its position on allowing plans […]
PRC letter to the IRS on OMB 1545–2187, Proposed Collection of Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits
The Pension Rights Center sent a letter to the IRS urging the Service to strengthen protections for “deferred vested” participants – those who have earned retirement benefits but have left their jobs before collecting benefits. The Center specifically asked the Service to change its guidance to require plan administrators to provide a single unified individual benefit statement […]