A participant elects a lump sum distribution of his full account balance of $200,000 in 2019, which is eligible for rollover treatment. What amount will the participant receive from the plan if he elects a lump sum payment and what tax form will be issued to him? What if he instead directs the plan trustee to do a direct rollover to a newly created IRA in his name?

Answer rating: 100% (QA)

If the participant elects a lump sum distribution of his full account balance of 200000 in 2019 he w... View the full answer