Guest jhengle Posted October 30, 1998 Report Share Posted October 30, 1998 Under Code USC 1058 - The benefit a participant received after a pension plan is merged must be equal to or greater than benefit she was entitled to receive before the plan merger. In Jan. 1996 a terminated participant requested his lump sum pension using PBGC rate and 1984 Mortality table, his amount to be distributed is $58,000, without his knowledge, in Feb of 1996 his plan is merged and the successor plan is using the code 417 accurrial assumption as amended by Gaat-RPA 1994 to determine lump sum values. In March he received his lump sum distribution of $48,000 from the successor plan sponsor. Is 1058 violated? Does 411(d)(6) protect the lump sum amount due prior to the merger? Link to comment Share on other sites More sharing options...
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