PBGC Issues New Table for Determining Expected Retirement Ages |
The table is for use by pension plans undergoing distress or involuntary termination with valuation dates falling in 2017.
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New IRS Document Request Process to Affect Employee Plan Examinations |
The agency says the updated process will reduce plan sponsors’ burden and provide consistent treatment of them, and allow the IRS to secure more complete and timely responses to Information Document Requests.
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Eligibility and Vesting Policies Curtail Savings |
GAO also says requiring participants to be employed on the last day of the year to receive matching contributions lowers potential retirement savings.
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ERIC Suggests PBGC Expand Missing Participant Program |
In a comment letter to the PBGC, the ERISA Industry Committee also encouraged a different fee structure and incorporating electronic rollovers of claimed accounts into qualified plans.
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