Terminated Money Purchase Plan

[Guest Golden Girl]

Hi,

We have a money purchase plan that was terminated years ago.

There is one participant (married) that we cannot get spouse to consent to lump sum.

It was always my understanding plan had to purchse annuity.

But, we can't find an annuity company wiling to purchase annuity without particpant or spouse acknowledgment.

My questions are

1. Can we do a forced IRA rollover?

2. If not, does anyone know of an insurance carrier that will take the funds and purchase an annuity without annuitant consent ?

Any help is greatly appreciated

Thanks

[QDROphile]

Time to explain the facts of life to the participant. All of the expenses of maintining the plan will be borne by the plan and charged to participant accounts. Give the participant the numbers to do the math -- $$ of expenses, one account. And wouldn't it be a good idea to have an audit of the plan each year just to make sure everything was being managed properly? Maybe an institutional trustee and fiduciary would be a good idea since the sponsor really wants to have as much distance from the plan as possible.

A more compassionate approach would be to transfer the benefit to another plan maintained by the employer, but still charge the account for identifiable expenses that go with the greate complexity of maintaining the acount in a different environment. You did not say there is another plan.