Beneficiary Question

[KaJay]

Background:

Susan dies and has left her 403b to a specific "Ministry A" within a religious denomination.

The named "Ministry A" no longer exists.

In the words of the religious denomination: "Ministry A" is now "Ministry B" - a likeminded ministry who also serves the mission of "ministry A". 

To my knowledge there was not a formal merging of entities but rather maybe a reorganization in which Ministry A dissolved and Ministry B took over some of roles of Ministry A.

Susan never named a contingent beneficiary. In the absence of a living/existing primary beneficiary and there is not a contingent beneficiary, the Plan's default is to push to the estate.

Question:

What does the plan need to know about Ministry B to determine if it can serve as the beneficiary of Susan's account?

[C. B. Zeller]

I would advise the plan to hire an attorney. This is outside the scope of most plan administrators' expertise.

[david rigby]

While it can be beneficial for the PA to get its own legal advice, note that changing names or focus of various ministries is common.  Some programs are part of a larger focus, might be spun-off, might be merged with others, etc.  Look to the actions and words of particular religious denomination at the time that Ministry A was discontinued, or merged, etc.

[QDROphile]

This is an interpretation question. It may well involve corporate law, e.g., is ministry B the legal corporate successor to ministry A? That might provide a satisfactory answer. It might not. I would start there, because it is conventional.

[Bob the Swimmer]

What does the Plan say ? If it goes to the estate, the probate court will decide if the new beneficiary meets the testator's requirements,