Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Education Consultant

Pentegra
(Remote / Putnam Valley NY)

Pentegra logo

Retirement Plan Analyst/Administrator

Compensation Strategies Group, Ltd.
(Remote / Beaumont TX)

Compensation Strategies Group, Ltd. logo

Retirement Plan Administrator

Nicholas Pension Consultants
(Remote / Corona CA / Rancho Cordova CA)

Nicholas Pension Consultants logo

Quality Assurance Manager

Nova 401(k) Associates
(Remote)

Nova 401(k) Associates logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon

<< Previous news item   |   Next news item >>



Participant Mistakenly Allowed to Take In-Service Withdrawal Before 59-1/2 — Now What?
BenefitsLink Message BoardsLink to more items from this source
Apr. 5, 2021

"Plan allows for in-service withdrawals at age 59-1/2 for deferrals and SH, and PS at NRA. Participant was told she could take an in-service withdrawal from the plan. She was not told about the age requirements. She took a $100k distribution in September and a 1099-R was issued. Problem: she's only 35. Can we retroactively amend to allow in-service withdrawals from non-elective contributions at age 34? If not, what's the correction?"

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2022 BenefitsLink.com, Inc.