Guest Chris May Posted January 9, 2003 Posted January 9, 2003 What is the procedure to involuntary distributions of lost participants? What about plan terminations, where the participant is missing with a balance greater than $5,000? Thank you
Guest Jennifer Reid Posted January 9, 2003 Posted January 9, 2003 The plan document should outline these procedures.
mbozek Posted January 9, 2003 Posted January 9, 2003 There have been numerous threads on how to dispose of account balances of missing participants. Several methods are available once it is determined that the part. cannot be located through SS or a private locator service including forfeiting the balance and distributing it among remaining participants and 100% withholding to the IRS. DB plans are required to transfer the benefits to the PBGC. mjb
david rigby Posted January 9, 2003 Posted January 9, 2003 In case you are not aware, you can look for those other discussion threads using the Search feature. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now