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Spouse or Not a Spouse? That is the Question...of the Week

DWC 06/4/19
QOTW - 6.4.2019 - Spouse or Not a Spouse - Plan Compliance
Facts Our company has sponsored a 401(k) plan for a while and although it’s not new to us that certain situations - from beneficiary designations to annual nondiscrimination testing - might require us to provide information about spousal relationships, we are seeing that different types of relationships, and statuses, are becoming more commonplace.
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When Must Participants Get Their Spouses To Sign-off On Changing 401(k) Elections?

DWC 04/3/18
QOTW - 4.3.2018 - When Must Participants Get Their Spouses to Sign Off On Changing 401k Elections - Plan Sponsor Requirements
Facts One of our employees recently asked about changing his primary beneficiary on his 401(k) account. The beneficiary form says the participant must obtain the consent of his spouse in order to make the change, but when I called the company that manages our plan for us, I was told that spousal consent rules do no apply to our plan. Now, I am ...
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