Continuing a 72t
L1: Continuing a 72tHave a client that started a 72t 2003 May, she recently transfered the funds to a new annuity company with the continuation of the 72t for atleastanother year in a half. The new company just informed me that they are unable to set up the 72t because the calculation from the old company was wrong and she was taking out to much money.What are my options? Should the new company just continue the monthly payment? Mind you theycalled two days befor the paymentis to be disbursed and they have hadthe money for 3 weeks. I’ve looked back and I don’t have any of the original illustrations for the intiital setup of the plan. Any advise would be appreciated…..dmoore
2009-04-27 17:12, By: dmoore, IP: [220.127.116.11]
L2: Continuing a 72tWere you therep that setup the original 72(t) or did the account transfer to you along with moving to the new annuity company? (This is not really clear from your post.)
Until you can determine the parameters for the original 72(t) by finding the documentation,or can “back into the calculations” of the original plan, you don’t have anything to go on and we can’t help you with your problem.
Jim2009-04-27 18:46, By: Jim, IP: [18.104.22.168]