Guest Iwonder Posted September 30, 2009 Posted September 30, 2009 A participant wants to take a distribution from a 401(k) plan. The plan does not permit investment into life insurance products but, unfortunately, the participant directed that deferrals were to be invested into life insurance, and it appears that the plan administrator complied. Now, the participant wants to liquidate the life insurance (that shouldn't be in his account in the first place) and take a permitted in-service distribution of what had been life insurance investments. I want to confirm that this is an EPCRS situation, and if so, the correct method of correction. Any guidance would be greatly appreciated.
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