terminating plan and participant count

[Chippy]

I recently took over a terminating plan from another administrator. The plan terminated in 2010 and has been trying to pay out the participants over the past few years. There are currently 7 participants with a remaining balance. I noticed in the file that the prior administrator requested census info last year, and listed 77 participants with 7 having balances. If it's a terminated plan, wouldn't the plan only have 7 participants, (the ones with the remaining balances)?

[My 2 cents]

If it is a terminated plan with an effective date of termination in 2010, wouldn't it have had to have paid out all of the benefits long before now?

Are they still filing 5500s every year?

[Chippy]

Yes, they have been filing a 5500 each year. I believe the remaining participants can not be located.

[ESOP Guy]

To answer your 1st question I agree the count would be 7.

[chc93]

Yes, they have been filing a 5500 each year. I believe the remaining participants can not be located.

What about transferring the benefits to Penchecks, Millennium Trust, or something like that... 4 years seems like a long time.

[Tom Poje]

or roll the $ into IRAs. even the latest Field Bulleting recommends this

missing persons bulletin 2014.doc