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?