Overpayment waiver requested?????? What is that all about?

[Guest Amjones1]

The incorrect amount was distributed as a death benefit and resulted in an overpayment. The beneficiary requested an overpayment waiver. What criteria can be used to determine if we should honor it?

[KIP KRAUS]

Let me get this strait. The beneficiary received more on the death benefit than what was legally due and wants to keep it.

My answer would be no you can’t keep the overpayment. You were not entitled to it.

I don’t know what you mean by criteria could be used to honor a so-called overpayment waiver. Never heard of such a thing.

In addition, if it's an ERISA plan you can't pay more than the benefit from the plan. I'm sure that your insurere wouldn't agree to overpay beneficiars