Death Distribution

[Guest Suanne]

A participant in two different plans dies. The last beneficiary form shows the children as beneficiaries, however, the participant remarried, and the spouse did not waive. Therefore, the spouse is the beneficiary. The spouse is not a US citizen, and lives in South America. She has not responded to any attempts to contact her.

One plan is terminated. As long as we have documented the necessary steps to try to locate the beneficiary, is it okay to roll over the terminated plan's participant account balance to an IRA in the participant's name? Then the beneficiary could claim the benefit from the IRA rollover carrier if/when they appear.

The other plan is not terminated. According to the document, the spouse is not required to take the benefit until the participant would have reached age 70 1/2, which would be in the year 2025. Does the participant's account balance need to stay in the plan until that time? Or is there any way that this can be handled (rolled over to an IRA) earlier than 2025?