News & Analysis as of

Lump Sum Payments Internal Revenue Service U.S. Treasury

BCLP

IRS Takes Step Towards De-Risking Retiree Lump Sum Windows

BCLP on

On March 6, 2019, the IRS announced that it will not amend the minimum required distribution regulations under Code section 401(a)(9) to expressly prohibit lump-sum window elections for retirees who are already receiving...more

Proskauer - Employee Benefits & Executive...

IRS Reopens Opportunity to Cash Out Retirees in Pay Status—At Least For Now

One de-risking tool for employers with defined benefit pension liabilities is to allow participants to receive lump-sum distributions. Although lump sums result in a short-term cash drain, they reduce the plan’s long-term...more

Poyner Spruill LLP

IRS Announces Retiree Lump-Sum Windows Are Back On The Table

Poyner Spruill LLP on

Pension plan sponsors have been looking for opportunities to manage their growing pension liabilities for many years now. In 2015, the Internal Revenue Service (IRS) closed the door on sponsors who were considering offering...more

McDermott Will & Emery

Final IRS Regulations Simplify Pension Plan Requirements for Partial Annuity Distributions

McDermott Will & Emery on

The Department of Treasury and Internal Revenue Service issued final regulations addressing the minimum present value requirements for pension benefits payable partly as an annuity and partly in an accelerated form, usually a...more

McDermott Will & Emery

Recent IRS Guidance Prohibits Lump-Sum Windows for Pension Retirees, Updates Pension Mortality Tables for 2016

The Internal Revenue Service (IRS) recently issued two significant notices for employers that sponsor defined benefit pension plans, particularly those considering lump-sum windows as a “de-risking” option for their plans....more

Franczek P.C.

Employee Benefits Alert - July 2015

Franczek P.C. on

Major Revisions to Qualified Plan Determination Letter Process Announced - Effective January 1, 2017, the staggered five-year determination letter remedial amendment cycles for individually designed plans will be...more

Littler

IRS Moves to Prohibit Lump Sum Windows for Retirees

Littler on

The IRS issued Notice 2015-49 (the "Notice") on July 9, 2015, effectively ending the ability of sponsors of qualified defined benefit pension plans ("DB Plan") to "de-risk" their plans by offering participants in pay status...more

Eversheds Sutherland (US) LLP

It's Curtains for Some Lump-Sum Window Programs

On July 9, the Internal Revenue Service (IRS) released Notice 2015-49 to announce it intends to prohibit retirees who are receiving annuity payments from a defined benefit pension plan from electing a lump sum in lieu of the...more

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