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Plan administrator/trustee/sponsor is gone; how should admin consultan


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Guest Scott Holechek
Posted

We have a plan that the plan sponsor went out of business without notifying the plan recordkeeper. Participants are requesting distributions from the plan but we are unable to locate the plan administrator or plan trustee. It appears that the plan should be terminated but we don't have the authorized signatures to start the termination process and distribute the assets. Has anyone else had this situation and know how to proceed?

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