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Distribution forms for Non-qualified deferred compensation plans.

Guest katesmith

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Guest katesmith

I do not administer non-qualified plans but a client of mine has one, drawn up by an attorney. A terminated participant wants to take a distribution but we have no distribution forms. Does anyone know where I can go for such a form?


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Guest KLSusac

The distribution is controlled by the terms of the plan.Typically,a plan may provide the participant with the option to choose a form of payment.This choice is exercised at enrollment to avoid constructive receipt issues but in some plans a participant may change the payment election within 12 or 24 months before termination or retirement.This election would control the payment of the benefit.

I hope this addresses your question.



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