Compensation Strategies Group, Ltd.
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
|Does Your Public Agency’s Plan Have Dormant Accounts That Should Be Paid Out?|
Best Best & Krieger LLP
Aug. 19, 2021
"Many holders of dormant accounts would at least consider a rollover or voluntary cash-out if they are told they would have to pay a more substantial recordkeeping fee for the maintenance of their accounts.... Although ... a lot of governmental 401(a) plans seem to require written consent to distributions in excess of $5,000, it appears that this rule does not apply to governmental plans generally and could be amended out of the document if warranted."
|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).|