Leaderboard

The SHM is based on deferrals up to 6%. The Basic SHM is 100% match on the first 3% deferred plus 50% match on the next 2%. The match rate is not limited to 100%. The formula of 100% match on the first 3% deferred plus 50% match on the next 3% works. The client may want to consider alternatives like: 200% match on the first 6% deferred. 200% match on the first 2% deferred plus 150% on the 2% deferred plus 100% on the next 2% deferred. While these may not be practical or affordable for many clients, discussing these possibilities can lead a client to have a better understanding of their demographics and matching obligations.

Absolutely. The estate is the worst possible beneficiary, particularly of an account as large as this one. The heirs will have to wait until probate, which can be slow and expensive, is finished before getting their money and, as already noted, will not be able to defer taxation through rollovers.

As others have said, read the document, the answer is probably there. I'd be surprised if the answer was not "THE ESTATE" in this case but that's just a most likely guess on my part and not legal advice.

Every plan document I've ever seen outlines what happens if there is no beneficiary. So, the Plan Administrator would follow that guidance and pay whomever it states to pay. Where it goes from there is likely covered by other laws and regulations.