Timing of Dsitribution Issue...

[chris]

Plan is a PSP with annual valuation date (12/31). Distribution section re terminated participants states that upon particpant's election account balance will be payable upon the Anniversary Date that coincides with/ or is on/after the date of participant's termination of employment. SPD says the benefit will be distributed as described "as soon as administratively feasible". Given that the annual valuation takes some time to get together it is not unusual for a number of months to go by after year end before a participant's account balance can be determined. Regardless, participants want their $$$$ now and some even demand interest to be paid from 12/31. Plan typically denies such a request. Are there any recent rulings, cases, etc.... which address specifically the payment of interest issue? My gut is that the "administratively feasible" threshhold is determinable on a plan by plan basis and is probably like trying to define "reasonable"..... Thanks for any help.