Randy Watson Posted June 13, 2007 Posted June 13, 2007 Terminated 401(k) plan paid out all benefits, but overlooked an exisiting QDRO that assigned 1/2 of a participant's benefit to an alternate payee. The alternate payee recently inquired about receiving his benefit and that he plans on rolling the benefit to an IRA. Since the plan and trust are long gone, the employer will pay the benefit out of their general assets. Please tell me if I'm wrong, but I don't think there is anything that the employer can do to create any kind payment that could be rolled to an IRA or another employer's qualified plan. I don't even think this is a benefit at this point...it's really a settlement payment.
J Simmons Posted June 13, 2007 Posted June 13, 2007 Randy, I'd suggest you analyze your facts in light of IRS Letter Ruling 200705031, November 9, 2006, and IRS Private Letter Ruling 200213032, January 2, 2002. John Simmons johnsimmonslaw@gmail.com Note to Readers: For you, I'm a stranger posting on a bulletin board. Posts here should not be given the same weight as personalized advice from a professional who knows or can learn all the facts of your situation.
Randy Watson Posted June 13, 2007 Author Posted June 13, 2007 Randy,I'd suggest you analyze your facts in light of IRS Letter Ruling 200705031, November 9, 2006, and IRS Private Letter Ruling 200213032, January 2, 2002. 200213032 was very helpful. Thanks.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now