Navigating the appropriate handling of a deceased participant’s plan benefit is an all too common concern for retirement administrators. What’s the big deal? Seems like it should be simple enough — just pay the beneficiary — but in practice it can be a major headache. How do plan administrators ultimately decide who the proper beneficiary is, and who will receive the plan benefit? How do beneficiary designations work in the context of divorce? What if the participant didn’t designate a beneficiary at all? What can employers and plan administrators do to help mitigate common challenges associated with beneficiary designations? Grab your cup of coffee and tune in to hear Richard and Sarah chat with Jennifer Kraft, a Partner in Seyfarth’s Employee Benefits and Executive Compensation department, about these burning questions and more!
To listen to the full episode, click here.