The death of a participant seems like a relatively simple matter for a 401(k) plan. The participant dies; the employer issues a final paycheck, and the plan arranges to distribute the account to the beneficiary. The only problem is that the process is often much more complicated than that, with many potential twists, turns, and risks. This seminar takes a close look at the possible impact of a participant or beneficiary’s death on a 401(k) plan.
- Compensation paid after death.
- Deferrals after death.
- Allocations after death.
- The effect of death on vesting.
- Determination of beneficiary.
- The effect of death on loans.
- Death of the business owner.
- Understanding plan distribution language.
- Effect of joint and survivor rules.
- Spousal survivor rights.
- Effect of QDRO.
- What to do when there are conflicting beneficiaries.
- How to handle a beneficiary’s death before distribution.
- RMD rules after death.
- Planning for surviving spouse.
- Death in the military.
- Life insurance in the plan.
Speaker: David Schultz, J.D.
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