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Showing results for tags 'retroactive annuity'.
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Traditional DB plan, several participants were supposed to be put in pay status at age 65 but the prior record-keeper failed to initiate the payments. We are now calculating retroactive annuity payments; however, the plan does not know the participant's marital status. Some participants cannot be located and some won't respond. On what basis should we calculate the annuity if we don't know their marital status? Single? Married? If married, what age should we use for spouse? The plan document is silent and I cannot find any guidance on whether there is a default method to use when calculating the annuity. Thank you.
