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Effect of Death on 401(k) Plans [2016]
Presentor: Derrin Watson Recorded Date: 12/19/2016 Duration: 100 Min.

This program was recorded during a live presentation given on December 19, 2016 at 12:00PM EST.

Death seems like such a simple matter for a 401(k) plan. A participant dies; the employer cuts the final paycheck; and the plan arranges to distribute the account to the beneficiary. The only problem is that the process is much more involved than that, with many twists, turns, and unanswered questions.

This seminar takes a close look at the effect of a participant or beneficiary’s death on a 401(k) plan.

Topics include:

  • Compensation paid after death.
  • Deferrals after death.
  • Allocations after death.
  • The effect of death on vesting.
  • Determination of beneficiary.
  • The effect of death on loans.
  • Death of the business owner.
  • Understanding plan distribution language.
  • Effect of joint and survivor rules.
  • Spousal survivor rights.
  • Effect of QDRO.
  • What to do when there are conflicting beneficiaries.
  • How to handle a beneficiary’s death before distribution.
  • RMD rules after death.
  • Planning for surviving spouse.
  • Death in the military.
  • Life insurance in the plan.
Prerequisites:There are no prerequisites or other advanced preparation for this program. Attendees should have a general familiarity with the operation of 401(k) plans, and a minimum of two years of experience.

Level: Intermediate

Instructional Delivery Method: Group – Internet-Based

NASBA Field of Study: Taxes

Speaker: David Schultz, J.D.

Objectives: After attending the presentation, attendees should be able to:

  • Explain the treatment of compensation paid after death.
  • Correct errors in deferrals and match after death.
  • Properly administer the required minimum distribution rules after death.
  • Explain the options with regard to participant loans outstanding at death.
  • Identify those situation when plan rules take priority over participant beneficiary designations.

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