On March 6, 2019, the Internal Revenue Service (IRS) issued Notice 2019-18 (Notice), announcing that it is retracting its previous position that prohibited pension plan sponsors from offering lump-sum cashouts to retirees who...more
On September 29, 2015, the U.S. District Court for the Southern District of New York issued a decision that emphasizes the importance of accurate communications to employees regarding changes in qualified retirement plan...more
The practice of offering lump-sum distributions has become increasingly popular among defined benefit plan sponsors looking to decrease volatility or other defined benefit plan risks. In some situations, plan sponsors offer...more