IRS Changes Course on Lump Sums to Retirees
In Notice 2019-18, the Internal Revenue Service (the “IRS”) changed its position and now will permit employers to offer lump sum payments to retirees who are currently receiving annuity payments from a defined benefit plan. This is a reversal from its position in Notice 2015-49, in which the Treasury Department and the IRS stated that […]
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Anne M. Meyer
Partner