Death Distribution - 4 beneficiaries 25% each

Deceased participant has 4 beneficiaries ... 25% each.

Should all 4 claims be processed at same time or can they be done as received, each receiving 25% of the account as of the date of processing?

What does the plan say?

Doesn't

I say they can be done as received.*  If it is on a platform, the recordkeeper might set up an account for each bene, which makes it sound complicated but actually simplifies things for processing.

*But if you can reasonably expect them to come in at roughly the same time,  and it makes it easier, hold them and do them all at once. 

I rarely invoke common sense in plan admin,  but here I think you can.  It certainly does not make sense, common or otherwise, to hold up 3 distributions forever because someone else didn't respond.

The assets probably ought to be segregated so that investment earnings will be properly allocated.  Certainly, paying out 25% of the account balance as of the date the death is processed by the plan to each beneficiary (as of some unknown future date or dates), as is with no subsequent earnings recognized, is 100% out of the question.  The pot should be split in 4, with each being accounted for to take investment results into account until actually paid out.

Not only would I do what My 2 cents says but it has always been my understanding that if you do NOT separate the accounts by the 12/31 the year following the death iit changes how the RMDs work.  So there is an incentive to separate them in my mind. 

I would separate the accounts now and pay each when you can.

Also, if you don't create separate accounts, make sure you don't pay the second person 25% of the remaining part because they should get 1/3rd, the next 1/2.  (You probably were thinking that, but actuaries tend to be hyper-literal.)