No Beneficiary on File

[JKW]

A former participant in one of our retirement plans passed away two years ago and the family is just calling to inquire about his account. The participant never completed a beneficary form for the account. What is required to pay the funds out properly - a court order?

[QDROphile]

A reading of plan terms that cover the circumstances. If there is a surviving spouse, the plan will provide for payment to the surviving spouse.

[mbozek]

A former participant in one of our retirement plans passed away two years ago and the family is just calling to inquire about his account. The participant never completed a beneficary form for the account. What is required to pay the funds out properly - a court order?

Why not determine who is the default bene under the plan to whom Plan admin should send a distribution form. Plan should request a death certificate.

Why do you think a court order is needed if bene can be identified- retirement plans are non probate assets so benefits do not pass under court supervision.

[JKW]

Thank you - I was able to find the default provision in the document.