The number of organizations taking advantage of new rules regarding lump-sum pension payout offerings increased dramatically in 2012.
According to Towers Watson, the Pension Protection Act of 2006 paved the way for pension plan sponsors to begin offering lump sum payments as a "de-risking" strategy and 2012 was the first year that provision was fully in effect.
Last year, Towers Watson advised more than 110 organizations on lump-sum pension payout offerings and implemented 93 bulk lump-sum programs covering about 400,000 participants.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
