Reminder On Benefit Notice, Statement Requirements

Law360, New York (April 11, 2007, 12:00 AM EDT) -- * Benefit Notices *

The Pension Protection Act provides that a participant must consent to a distribution prior to the later of normal retirement age under the plan or age 62. Benefit notices must apprise a participant of the right to defer distribution in accordance with the law and the terms of the plan. The PPA requires that notices in plan years beginning after 2006 must also inform a participant of the consequences of failing to defer payment.

In Notice 2007-7, the Internal Revenue Service has...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.