The government has updated a rule that governs worker and retiree pension plans.
The U.S. Treasury Department recently released new guidelines in March that allow employers to offer a lump-sum payout to Americans in order to buy them out of future annuity payments.
Previously, under the Obama administration, the Treasury had said it would stop allowing lump-sum payouts in 2015 to people already receiving pension payments, which resulted in a decision among most employers to stop offering them.This move was designed to protect retirees, who — under a defined benefits plan — receive guaranteed payments for life. The lump-sum payout gives […]
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