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Missing Spouse and pension withdrawal


Guest JD698

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Guest JD698

Participant is requesting a lump sum withdrawal from a Money Purchase Pension Plan. He indicates he is not married as he cannot find his spouse. Obviously he is still married and clearly the participant's word is not enough to enable the fund to distribute the lump sum to the participant.

Are there any guidelines as to what the participant is required to do in order for the Fund to safely distribute the lump sum to the participant?

Is the Fund required to take any steps to locate the "missing spouse"?

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  • 3 weeks later...
Guest Kevin A. Wiggins

No spousal consent is necessary if the participant can show the plan the spouse is unable to be found. This is in ERISA Section 205. Of course, if the plan doesn't believe the participant, that is another matter. Has the participant tried to get help from the DOL?

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