- When is a retirement plan distribution a distribution?
- Is a retirement plan distribution subject to state law or the federal Employee Retirement Income Security Act (ERISA)?
Majors Plastics is a 100% employee-owned company with an Employee Stock Ownership Plan (ESOP). On Friday, September 12, 2014, one of its employee owners requested a lump-sum distribution of his accrued ESOP benefits to his personal trust. The stock totaled about $2.7 million.