CLE Pension Posted May 12, 2023 Posted May 12, 2023 Looking for opinions on what to do with DB RMD when marital status is unknown. IF you were going to force someone into payment, and did not know if the participant was married or not, would you set up with a life annuity form of payment or a QJSA with spouse date of birth the same as participant's? What if the normal form of payment in the plan, for an unmarried participant, is a 10-year certain and life?
C. B. Zeller Posted May 12, 2023 Posted May 12, 2023 What's stopping you from contacting the participant and asking them? If they're unlocatable or unresponsive, how do you expect them to cash the check (in whatever form ends up being paid out)? Paul I and Effen 2 Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
truphao Posted May 12, 2023 Posted May 12, 2023 I would try to reach out to participant first. If no avail, I would do the calculations based on the normal form under the plan and be done.
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