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Options for Missing Beneficiary
BenefitsLink Message BoardsLink to more items from this source
Apr. 6, 2021

"An ongoing governmental defined benefit plan provides a death benefit. In some cases, the sponsor is [1] unable to contact a beneficiary but believes they have the beneficiary's correct information, [2] is unable to identify the correct beneficiary at all, or [3] is unable to obtain a name, address, valid SSN, etc. for someone they believe may the correct beneficiary. Assume no relevant state law, no representative has qualified on the estate, and that the sponsor has conducted a diligent and reasonable search under the circumstances. Under scenario (1), I believe they could forfeit the death benefit subject to reinstatement, force an IRA rollover, or possibly escheat. What are valid options under scenarios [2] and (3)?"

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