IN CALCULATING PERSONAL NET WORTH, HOW SHOULD VESTED PENSION PLANS, INDIVIDUAL RETIREMENT ACCOUNTS, 401(K) ACCOUNTS AND OTHER RETIREMENT SAVINGS ACCOUNTS BE COUNTED?
The HDOT will count the present value of such assets less the tax and interest penalties that would accrue if the asset was distributed at the time of certification. 11. AFTER A FIRM LOSES ELIGIBILITY FOR EXCEEDING SIZE LIMITS, OR AN INDIVIDUAL’S PRESUMPTION OF SOCIAL AND ECONOMIC DISADVANTAGE IS REBUTTED FOR EXCEEDING THE PERSONAL NET WORTH CAP, CAN THE INDIVIDUAL OR BUSINESS EVER PARTICIPATE IN THE DBE PROGRAM IN THE FUTURE? When a firm is denied certification, the firm may reapply one year following the removal of eligibility. The provision applies regardless of the basis for the denial of certification. A denial based on business size or personal net worth grounds is no different, for this purpose, from a denial based on ownership or control grounds.
