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.

Tax accounting, Payment

---

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.

Distribution, Retirement income

---

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.

Defined benefit plans, Safe harbor (Taxation)

Similar abstracts:

• Abstracts: Ethical issues in the marketing, advertising, and sale of universal life insurance. Measuring the financial impact of backdating a life insurance contract
• Abstracts: PBGC publishes information booklet on QDROs. Suspension of benefits - still confusing after all these years. Interest rate assumption for crediting contributions to a cash balance plan sufficient to make benefits definitely determinable
• Abstracts: Reinsurance of declaratory judgment action expenses in environmental coverage actions: arguments and case law
• Abstracts: Sidley partner swaps Bulls for the Pacers. The top benefits lawyers; peers rate the trendsetters and groundbreakers
• Abstracts: Court of Appeals precludes General Signal from deducting amounts used to pre-fund medical and life insurance benefits

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.