Guest Iwonder Posted March 23, 2006 Posted March 23, 2006 Such worries! Participant received a lump sum pursuant to a termination and as provided in the Plan. Problem: participant did not receive a lump sum of the entire amount. Suggestions?
WDIK Posted March 23, 2006 Posted March 23, 2006 Distribute the remaining balance? ...but then again, What Do I Know?
Guest latwz Posted March 23, 2006 Posted March 23, 2006 Is this a Plan termiantion? If so, sometimes there is an initial distribution followed by a smaller distribution after fees, etc. If not, they chould comtact the PA.
namealreadyinuse Posted March 31, 2006 Posted March 31, 2006 Dumber question: Did they happen to receive 80% of the acount balance?
GBurns Posted March 31, 2006 Posted March 31, 2006 In other words, 1. They might not have been eligible to receive the entire balance amount because they might not have been fully vested and therefore only entitled to a portion of the account balance. 2. Taxes or something else might have been withheld. 3. It could have been a partial distribution with more to follow. Was there any accompanying explanation? George D. Burns Cost Reduction Strategies Burns and Associates, Inc www.costreductionstrategies.com(under construction) www.employeebenefitsstrategies.com(under construction)
Guest DFerrare Posted March 31, 2006 Posted March 31, 2006 Maybe it was sent to the person in the other Message who got too much.
WDIK Posted March 31, 2006 Posted March 31, 2006 Thanks DFerrare. I needed a good chuckle today. ...but then again, What Do I Know?
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