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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 to deliver key disclosures to participants electronically by default; and (c) reinstating spousal protections that were suspended during the pandemic. The PRC wrote “There is much that the Treasury/IRS can and should do to issue guidance that safeguards important rights for workers, retirees and their spouses.”
