Involuntary Cash-outs

[Guest Sheree Wynn]

The new law increases the limit on involuntary cash-outs from $3,500 to $5,000. Out Plan Document (combined Profit Sharing and 401(k)) is being updated by our Trustee to reflect the change. Are we required to notify our current TRD's of the change? and require them to distribute?

[Guest Kerry]

We reviewed this issue with our pension plan last year and we were told that it was our decision as to whether or not to make involuntary distributions. We chose not to implement the new rule.