What is Recoupment?
I received a letter from my pension plan stating that it has been overpaying me. The letter says that the plan is going to reduce my monthly payments and that I will also have to pay an additional amount to the plan. What can I do? In recent years, the Pension Rights Center has seen […]
Proposed regulations on the recovery of pension plan overpayments (July 2015)
The Pension Rights Center submitted comments to the Internal Revenue Service (IRS) on procedures for the recoupment (recovery) of overpayments made to participants. Overpayments occur for several reasons, often due to plan errors in calculating benefit amounts. Retirees are usually unaware that their benefit amounts have been calculated incorrectly and are surprised when they receive a […]