PRC In the News

IRS, Treasury Halt Lump-Sum Buyouts for Retirees Getting a Pension

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.

PRC In the News
07/13/15|Business Insurance

Pension advocate backs IRS rule banning annuity conversions to lump sums

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.