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788 (1997) (TRA 'ninety seven). The text of the temporary polices served to be a percentage of the text of your proposed rules. Hardly any comments were submitted on the proposed polices; no Listening to was requested or held. Right after thing to consider of the responses, these final polices undertake the provisions of the proposed restrictions. Explanation of Provisions
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As indicated during the preamble to the ultimate and temporary rules released While using the proposed rules, that profit could possibly be cashed out.
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The commentator further stated the cash-out provisions are built to let options to reduce their administrative charges by producing lump sum payments to contributors with compact benefits and the lookback rule is Opposite to that design and style as the rule (one) can make it much more costly for administrators to determine whether the provisions use and (2) can avoid a approach from depending on the provisions in several situations where by the worth of your participant's recent benefit is nicely underneath $five,000.
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