(Mid-America Pension Rights Project): Trump Treasury Backtracks On Lump-Sum Pension Rules Meant To Protect Retirees

Via Forbes.com

By Ashlea Ebeling

The Treasury Department told off employers back in 2015: Lump-sum pension buyouts for retirees already in payout status are a no-no. In practice, employers stopped offering them, per Notice 2015-49, despite the fact that proposed and temporary rules never came out. Now, in a Trump-era twist, the Treasury Department has backtracked with Notice 2019-18, a retraction of intent to propose regulations on the topic: “Offering a Lump-Sum Payment Option to Retirees Currently Receiving Annuity Payments under a Defined Benefit Plan.”

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