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Plan sponsors can take two approaches to so-called bifurcated pension benefit distributions for plan years beginning Jan. 1, 2017. (AP Photo)

After a four-year rule-making process, the U.S. Department of Treasury and IRS have released final regulations intended to encourage participants in defined benefit pension plans to take part of their savings in an annuitized payment stream, as opposed to electing to take the entire benefit in a lump sum.

In the final rule published in the Federal Register on Sept. 9, regulators note that the Treasury Department and IRS “believe that many participants are better served by having the opportunity to receive a portion of their retirement benefits in annuity form while receiving accelerated payments for the remainder of their benefits to provide increased liquidity during retirement.”

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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