A formerly qualified money purchase Severance (welfare benefit plan) is in the process of being terminated and has liquidated all participant balances. A tax refund is expected and there are additional funds remaining after paying off all balances. This plan is to be construed under the laws of New Jersey.
What, if anything, can be done with the remaining funds? Can the trustees do anything with these funds such as CLE seminars? Is the money forfeited and does it revert to the State? Or something else?
Any help is appreciated!