Topic Archive: Benefit Waiver

Is it Possible for a 401(k) Beneficiary to Waive Benefits?

DWC | 05/1/18

Facts

One of our employees who was a participant in our 401(k) plan recently passed away. He never submitted a beneficiary designation form; however, since he was married, we understand that his spouse is automatically his beneficiary. According to his spouse, there are enough other assets such that she does not want to accept the death benefit from the 401(k) plan and prefers, instead, that the benefit pass to her brother-in-law (her deceased husband’s brother).

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