katieinny Posted October 22, 2019 Posted October 22, 2019 A participant signed a distribution form requesting a large lump from his DB plan, then dies the next day. His spouse predeceased him. At this point, I don't know if the distribution form is still on somebody's desk, or if the check is in process. I'm hoping his children can at least get the benefit of inherited IRAs. Any thoughts?
QDROphile Posted October 22, 2019 Posted October 22, 2019 I work with plans that address the circumstances. What does the plan say?
katieinny Posted October 22, 2019 Author Posted October 22, 2019 Haven't seen the plan yet. That seems like a weird circumstance for the plan to address, though.
david rigby Posted October 22, 2019 Posted October 22, 2019 38 minutes ago, katieinny said: That seems like a weird circumstance for the plan to address, though. Not weird at all. Although not experienced by every plan, this circumstance has occurred before, and every ERISA attorney or every TPA has considered it. 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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