PBGC issues final rule regarding recoupment and reimbursement of benefit overpayments and underpayments
Article Abstract:
A Pension Benefit Guaranty Corp. (PBGC) finalized rule issued in May 1998 addresses the problems of recipients of overpayments or underpayments of terminated ERISA plan benefits before PBGC makes entitlement determinations. Permanent actuarial reductions and excessive recoupment are among the problems addressed by the final rule which was issued in Dec 1998.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1998
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IRS finalizes regulations on notice, consent and election requirements for qualified plan distributions and issues guidance on cash-out rules
Article Abstract:
The IRS has issued final regulations under IRC sections 411(a)(11) and 417 which contain primarily procedural rules concerning qualified retirement plan timing of distributions. Rules regarding cash-out limits for small benefits contained in the Taxpayer Relief Act of 1997 are a point of reference for the final regulations' accelerated timing rules.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1999
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PBGC proposes amendments to encourage self-correction of underpayments
Article Abstract:
This article examines the proposed amendments to safe harbor rules issued by the Pension Benefit Guaranty Corp. concerning self-correction of ERISA defined benefit plans in cases of delays made in making insurance premium termination payments. The rules provide for relief from late payment penalties for plans of a specified size.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1999
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