Imagine his children's surprise: Despite having previously named his three kids as beneficiaries of his 401(k) plan, a deceased man's workplace retirement savings would not be part of their inheritance. Instead, they would pass to his new wife.
Typically when dealing with retirement plans, the beneficiary form trumps all. But in this case, the beneficiary form was trumped — by federal ERISA rules.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access