The Pension Benefit Guaranty Corp. announced a proposal this week that would make it easier for 401(k) plan participants to get higher returns and secure lifetime income by moving their funds into traditional pensions.
The agency is encouraging employees who have rollover options to move their benefits from defined contribution plans to defined benefit plans. The new proposal removes the fear that the amounts rolled over would suffer under guarantee limits should the PBGC have to step in and pay benefits.
The proposed rule outlines safeguards for benefits that are rolled over from defined contribution plans.
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