- 3 -
a section 401(k) account with CIG during both years. The CIG
plan was administered by Merrill Lynch Trust Co., FSB (Merrill
Lynch). In July 2000, petitioner borrowed $9,000 against his
section 401(k) account. Petitioner’s earnings statement for 2000
reflects that petitioner repaid $3,420.42 on a section 401(k)
plan loan. The record is unclear as to whether the loan payments
were credited to the loan he received in July 2000 or to a loan
he received in a prior year, or whether the payments were applied
to more than one loan. Further, to the extent there was a loan
in 2001, the terms of the loan and the record of repayments are
not made part of the record.
In 2001, CIG was acquired by Eagle Global Logistics (Eagle).
Petitioner was employed by Eagle after the merger and remained an
employee with the company for several months in 2001. Eagle
offered a retirement plan to its employees, and petitioner
maintained a retirement account during his employment. The Eagle
retirement plan was administered by ING Life Insurance and
Annuity Co. (ING).
In 2001, petitioner received a distribution of $15,322.69
from a CIG-sponsored retirement plan. A Form 1099-R,
Distributions From Pensions, Annuities, Retirement or Profit-
Sharing Plans, IRAs, Insurance Contracts, etc., issued to
petitioner by Merrill Lynch reflected the number “1” as the
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Next
Last modified: May 25, 2011