IRS Rules on Tax Treatment of Uncashed Distribution Checks
Does an individual’s failure to cash a retirement plan distribution check permit her to exclude the amount of the designated distribution from her gross income in that year?
Tag: missing retirement plan participants
Retirement Outcomes of Cashed Out Plan Participants Worse Than Missing Participants
Plan sponsors that care about the retirement readiness of their participants and feel a responsibility to help, should focus on efforts to prevent cashouts, and may find missing participants in the process.
ERIC Calls on DOL to Issue Detailed Missing Participant Guidance
The letter also asks that until guidance is provided, for the DOL to stop issuing letters that allege an employer has committed a breach of fiduciary duty with respect to the practices utilized to locate missing retirement plan participants.
MetLife Faces Court Challenges for Pension Risk Transfer and Beneficiary Practices
According to the text of the complaint, the action seeks to hold MetLife accountable for the company’s conversion of more than $500 million in annuitized retirement benefits, interest, and unlawful profits over the last 25 years. State regulatory authorities in Massachusetts are also getting involved.
PBGC Offers Missing Participants Program to DC Plans
A final rule opens the current program to terminated DC plans and small professional service defined benefit plans.