"minimum" Minimum Required Distrib

[austin3515]

Guys account balance is $380. Do I need to do an MRD, or is there some sort of a de minimis waiver?

[jevd]

No Diminimis to my knowledge. Can you talk your client into taking it all?

[Guest Pensions in Paradise]

Nah, it's more fun if he amortizes it over 20 years. Just think what he can do with the annual check for $19.

[SMB]

Any chance your Plan allows the participant to be charged for distribution-related costs? That might change his tune...

[david rigby]

Hold on. No mention of whether this participant is still actively employed, or whether the plan permits distribution prior to severance of employment. What does the plan say?

[RCK]

I agree with pax--what DOES the plan say?

Ours does not allow installment or partial distributions. So if they have terminated employment and need to get a MRD or RMD, they have to take their entire account.

The MRD part is not rollover eligible, balance is.

[austin3515]

Guys terminated.

I looked on TagData and they confirmed no de minimis rule for MRD's.

Anyway, I can force the guy out (assuming he doesn't respond) in which case my MRD is satisfied, and this guys is outa my hair.

[BG5150]

If you force him out, you have to force out everyone under the threshold. You can't pick and choose to whom you will distribute.