If a terminated participant of a money purchase plan wants to take a distribution, what are their options? I realize that they can just take a lump-sum distribution, but can they roll it into an IRA or to another qualified plan? Also, do all distributions from a money purchase plan require a spouses signature for Qualified Joint Survivor Annuity purposes? Thanks!

Check your plan document. It should spell out very clearly the options available. But generally, the options for a M/P plan are the same as any other plan - lump sum, periodic payments, annuity, etc. If the distribution qualifies as an eligible rollover, they can roll the money over to an IRA or another qualified plan.

The J&S rules do apply to a M/P plan, so following those, anyone with a $5,000 vested balance must have their spouse's consent to electing out of the annuity.