Joel / Carolyn,

I have been told that if a person chose period certain rearding their retirement choices that there still would be the availability to rollover the balance to an IRA. This choice would include all current retirees thus there is a huge grapevine of possible clients. Hoever, if a person chose the life annuity choice then the funds would have been retitled in the name of the insurance company or annuity company and all future hopes of a rollover to an IRA are null and void.

I have been made aware of though that if a person has chosen a period certain payout that it is essentially a contract similar to the life annuity contract just with a definite ending point, thus the money is not available rollover.

If you have some insight or answers to the contrary please let me know, otherwise the only money we will have access to as compared to before, are the fresh rollovers from retirees as the older retirees it would all be a dead issue?

I look forward to your answers?

Shawn
800-628-5770

See my other message on this. A lot depends on whether the plan sponsor elects to amend the plan to permit new elections, which it is under no obligation to do. Moreover, as a practical matter, you are right that an employer likely cannot get the money back if it has purchased a life annuity, and therefore is not going to amend the plan to permit changes of elections in those instances.