FJR Posted April 22, 2004 Posted April 22, 2004 Have a situation with a client that has a PS plan and still maintains a Money Purchase. PS plan has a Hardship provision that allows distribution on all vested balance. By a great mistake, participant was given more money for the hardship then actually has as an account balance. Approx. 2,000 to much. Any suggestions on what to do would be appreciated. FYI, participants Money Purchase balance has plenty of money, not that this will help?
FundeK Posted April 22, 2004 Posted April 22, 2004 Contact the participant and ask them for the $$ back. If they refuse, threaten legal action.
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