The plan participant
must have had the opportunity to choose his or her investments, but did not do so.
A haircut provision is defined as a percentage loss the plan participant
would suffer due to an early distribution from the plan.
75 per plan participant
beginning in 2006, which is indexed for wage increases.
If a plan participant
who leaves a publicly traded company is a key employee (a "specified employee"), distributions cannot occur until six months after service ends (or at death).
Transamerica receives six MFEA STAR Awards for Excellence, including overall excellence in plan participant
When a plan participant
left employment, the ESOP redeemed convertible preferred stock equal in value to the participant's vested account, regardless of any election by the participant on the ultimate distribution of the account balance (Boise Cascade decided whether the redemption was to be in cash or common stock).
According to Foster, "The Pension Protection Act can offer great opportunity, but the financial professional, the employer and, ultimately, the plan participant
need the tools to determine what it means to them and how they can take action.
The Department of Labor or a plan participant
may sue any fiduciary or party in interest who engages in a prohibited transaction.
Say a 401(k) provider gives each plan participant
personalized information that illustrates his income the day before and the day after the person retires.
Bankers Trust and Schwab will make similar investment choices available in the IRA, making the transition from company plan participant
to individual investor easier and less confusing, while providing continuity to the individual's long- term investment strategy.
Designed with a focus on meeting the needs of the plan participant
, NPC's program provides each employee with the opportunity to receive individual consultation from an experienced financial adviser at no additional cost.
Recognizing the working owner as an ERISA-sheltered plan participant
also avoids the anomaly that the same plan will be controlled by discrete regimes: Federal-law governance for the nonowner employees; state-law governance for the working owner.