Labour market · 17/05/2024

Abandoned Plan Regulations Amended to Cover Bankruptcy-Related Plans

The U.S. Department of Labor has updated the Abandoned Plan Program regulations to include individual account pension plans abandoned by employers in liquidation under chapter 7 of the U.S. Bankruptcy Code, allowing bankruptcy trustees to use streamlined procedures to terminate and distribute benefits.

Source: Federal Register — Department of LaborOpen original release →

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