401k vs. IRA beneficiaries, spouse?
401k plan say spousal consent indispensable if I do not detail her for 100%.
I don't work for that employer anymore. I am going to move $$ to IRA. Am I going to necessitate spousal consent? Can I provide something smaller number than 100% to spouse contained by the IRA?
Answers:
401k plans are covered by the Employee Retirement Income Security Act (ERISA) and spousal consent is roughly required for persuaded arrangements such as beneficiary designations and withdrawal. Depending on the type of benefits involved in that 401k (i.e. annuity, etc.) spousal consent really shouldn't be required for naming a beneficiary, but anything.
IRA's are not covered by ERISA and that`s why you can grain free to heading whomever you would similar to to as a beneficiary in need have to make a purchase of spousal consent.
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I don't work for that employer anymore. I am going to move $$ to IRA. Am I going to necessitate spousal consent? Can I provide something smaller number than 100% to spouse contained by the IRA?
Answers:
401k plans are covered by the Employee Retirement Income Security Act (ERISA) and spousal consent is roughly required for persuaded arrangements such as beneficiary designations and withdrawal. Depending on the type of benefits involved in that 401k (i.e. annuity, etc.) spousal consent really shouldn't be required for naming a beneficiary, but anything.
IRA's are not covered by ERISA and that`s why you can grain free to heading whomever you would similar to to as a beneficiary in need have to make a purchase of spousal consent.