New Lump Sum Payments Rules Effective Immediately

The ERISA Industry Committee submitted a comment letter to the U.S. Department of Treasury and the Internal Revenue Service asking for clarification on the elimination of lump sum windows in pension plans for individuals currently receiving lifetime income payments

ERIC Makes Recommendations on the IRS Determination Letter Program

ERIC submitted comments to the Internal Revenue Service on its proposal to eliminate its determination letter program for individually designed plans. The program affirms that an individually designed retirement plan and any changes made to it are qualified for tax purposes