arthurkagan Posted August 29, 2022 Posted August 29, 2022 Plan participant first wife dies. He names daughter as beneficiary of his 401k plan, and also as beneficiary of the 401k plan in his family trust. He remarries and dies several years thereafter without naming his new wife as beneficiary of his 401k plan. The daughter is claiming the benefit. The new wife disagrees. Who is right.
Popular Post John Feldt ERPA CPC QPA Posted August 29, 2022 Popular Post Posted August 29, 2022 What does the plan document say? It likely says the spouse at the time of death is the 100% beneficiary unless such spouse has provided written, witnessed consent to waive that right. Meaning, the remarriage likely makes the new spouse the 100% beneficiary regardless of the prior designation. However, you need to check the terms of the plan document. Bird, Lou S., hr for me and 2 others 5
CuseFan Posted August 29, 2022 Posted August 29, 2022 If the document doesn't say that then the plan sponsor has a bigger problem. Luke Bailey, hr for me and Appleby 3 Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now