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katieinny

DB plan distribution form signed, participant dies the next day

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A participant signed a distribution form requesting a large lump from his DB plan, then dies the next day.  His spouse predeceased him.  At this point, I don't know if the distribution form is still on somebody's desk, or if the check is in process.  I'm hoping his children can at least get the benefit of inherited IRAs.  Any thoughts?

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38 minutes ago, katieinny said:

That seems like a weird circumstance for the plan to address, though.

Not weird at all.  Although not experienced by every plan, this circumstance has occurred before, and every ERISA attorney or every TPA has considered it.

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