Loan & Distribution Specialist AimPoint Pension
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Compass
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Regional Vice President of Sales The Retirement Plan Company
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AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Bates & Company, Inc.
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It's Official: Final Regs Eliminate the 'Lookback Rule' for Involuntary Cash-Out Distributions
Internal Revenue Service [IRS] [Official Guidance] July 19, 2000 Generally effective for distributions on or after October 17, 2000. "The lookback rule [formerly prevented] plans from cashing out a benefit currently valued below the cash-out limit simply because it had been valued above the cash-out limit at the time of an earlier distribution. This [created] disparity in the treatment of benefits of equivalent value and [required] plans to incur additional recordkeeping and other administrative costs." |
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