Form 5500 SSA

[pmacduff]

I have something I cannot believe has never come up before:

Deceased participant (2006) still has a balance in the Plan. Is this reportable on the Schedule SSA?

I was always under the assumption that the SSA was used by the Administration to inform participants of a possible benefit in a retirement plan when the participant applied for Social Security Benefits. This participant will obviously not reach that point. Would the Administration notify whoever applies for any Social Security benefits on behalf of the participant?

added twist...original beneficiary was spouse, spouse was convicted of participant's murder. Participant has minor children and client believes court will award the minor children/their guardian to receive benefit.

[JanetM]

We report deceased participants on SSA. This, we hope, will result in someone claiming the benefits.

[pmacduff]

Thanks Janet, that was my feeling as well.

We do know where the beneficiaries are in this case so I'll probably be reporting it as a "D" on the Schedule SSA in the not too distant future anyway as it will get paid out.

[Lori Friedman]

I believe it's mandatory to report decedents on Schedule SSA. The schedule's instructions say to report a participant who separates from service and is entitled to a deferred vested benefit under the plan. The instructions don't specify how that individual terminates service; the language is very broad and seems to include people who separate from service for any reason, including death. If the plan is obligated to make future benefit payments to a decedent's beneficiaries, I would disclose the deceased participant on Schedule SSA.