Valuation Date for Distribution

[Guest sarasf]

In a profit sharing plan, Valuation Date is defined as: "The last business day of each Plan Year and each other date as may be specified by the Administrator" The last business day of the Plan Year is December 31. Does the "each other date" portion of the definition mean the Administrator (who is also the plan participant with by far the largest account) can decide that for purposes of an anticipated distribution he is going to "specify" July 31 as the Valuation Date? Nothing in any plan document ever mentions any Valuation Date other than the December 31 date. I don't know what has been done with prior distributions (there have only been 2 distributions in the 11 year history of the plan). Participat requested distribution upon her termination of employment in late February. Administrator did not have calculations on distribution figures complete until August 15 and valued distribution based on plan value on July 31. This results in a loss to participant of about $10k.