A group of organizations representing retirement plan sponsors, administrators, recordkeepers and advisors urged the Treasury Department to limit the effect of the Supreme Court's decision striking down the Defense of Marriage Act on the pension decisions of same-sex couples.
The group, which included the U.S. Chamber of Commerce, the Spark Institute and the ERISA Industry Committee, argued in a letter that recalculating spousal benefits, death benefits and required minimum distributions to same-sex partners would open plans and participants to complicated questions about payments and decisions made under DOMA.
The group's letter, addressed to J. Mark Iwry, senior advisor to the secretary and deputy assistant advisor for retirement and health policy, and George Bostick, benefits tax counsel to the Office of Tax Policy, strongly recommended that the IRS "utilize its authority … to limit the extent of the decision's retroactivity."
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.
