Does Millennium Trust take rollover distributions from terminated plans?
Yes. Like any ongoing plan, any benefits of $5,000 or less from a terminated plan may be rolled over to an IRA under the Automatic Rollover Safe Harbor regulations. For balances greater than $5,000, plan sponsors are required to take additional steps, as outlined in Field Assistance Bulletin No. 2004-02, to search for lost participants before the transfer can take place. We also accept rollovers from abandoned plans.
