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Showing content with the highest reputation on 10/14/2017 in all forums

  1. This is why we frequently suggest that ESOPs have distribution policies. Many plans are written to say that distributions will commence not later than or made in installments over a period not longer than.... So, the Plan Fiduciary needs to demonstrate consistent and uniform policies in applying these open ended concepts. Sounds like you have already checked the plan and found it not helpful and you don't have a policy. If this is the first time this has happened, this may be the time to start drafting a set of distribution policies. But, I wouldn't do that without some good legal advice.
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