Guest Sunny Posted October 22, 2002 Posted October 22, 2002 A 401(k) Plan Document reads distributions are to be processed as soon as administratively feasible.....the participant has been waiting 2 years and now receives remaining distribution check when the market is all time low. Is there any recourse the participant has since the plan administrator has taken so long to process this distribution??
jaemmons Posted October 23, 2002 Posted October 23, 2002 Was this a voluntary or involuntary distribution?
Guest Sunny Posted October 24, 2002 Posted October 24, 2002 The distribution was less than $5000. Paperwork for distribution to begin was executed and received in November of 2000. Received distributions for deferral amount and was waiting for company to make their contribution to receive remaining P/S distribution amount. Then in October 2002, received check in mail for remaining distribution.
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