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Showing results for tags 'death '.
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A participant's wife has passed away and he would like to rollover the 401k balance from his wife's company to his 401k account at his company. Can 401k plans accept spousal death benefit rollovers or must he rollover the balance to an IRA? Thanks!
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Hello. I a faced with a unique beneficiary designation and my inclination is that it is not appropriate. The plan document allows for one or more primary beneficiaries to be named and one or more contingent beneficiaries if all of the primaries have predeceased the ppt (or disclaimed). We received a custom beneficiary designation that names one or more 2nd tier contingent beneficiaries to each of the contingent beneficiaries, meaning that if all of the primaries predecease, then the named contingents do not split the account equally as would normally be the case. Rather, the participant wants specific 2nd tier contingents to get any predeceased contingents' share. I can't find any information on this online and I was hoping someone had some prior experience with handling this issue. Thanks so much.
