k man Posted August 1, 2005 Posted August 1, 2005 do you think it is appropriate to required the parent/guardian of a minor beneficiary to open an UGMA account in order to receive the distribution from a401(k)? the plan allows for this but it also says you can just make the check payable tot he minor?
Guest Bud Posted August 4, 2005 Posted August 4, 2005 If it doesn't cause any harm to the minor, I think it's ok.
jsb Posted August 4, 2005 Posted August 4, 2005 If the plan permits options, how can you arbitrarily "require" one over the other? What if the guardian objects?
david rigby Posted August 4, 2005 Posted August 4, 2005 Just a few of the "hits" when you Search using the keyword of "minor" http://benefitslink.com/boards/index.php?showtopic=2806 http://benefitslink.com/boards/index.php?showtopic=19426 http://benefitslink.com/boards/index.php?showtopic=15198 http://benefitslink.com/boards/index.php?showtopic=28444 http://benefitslink.com/boards/index.php?showtopic=4344 http://benefitslink.com/boards/index.php?showtopic=15793 I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
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