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Limit Placed on Pension Derisking

Treasury, IRS prohibit lump-sum buyouts for retirees already receiving pensions.

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As of July 9, 2015, sponsors of defined benefit pension funds will be prohibited in most cases from offering retirees already receiving pension checks a lump-sum buyout.

Lump-sum buyouts had been permissible under a provision of tax law that only allowed increases to benefit payments.

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