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Posted

We are terminating a PBGC covered plan and the distribution deadline is approaching. One participant cannot obtain spousal consent for the lump sum distribution because his wife refuses to sign the consent form so we will have to purchase an annuity. I've never needed to purchase an annuity for 1 person. The companies that we work with on annuity purchases have limits and he has a very small benefit. Any ideas?

Posted

There are brokers who can help - I will PM you.  You can also go direct to the carriers.  Did you try Midland and/or Mutual of Omaha?  They will usually quote.  I will send you a few options via PM for brokers who might be able to help.

The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.

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