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Jul 16 2009
What happens to a 401k plan if the person passes away before retirement?
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ProudArmyWife! asked:
My mother passed away 4 years ago, and I just remembered that she had a 401k plan because it was listed on her paycheck statement (I’m assuming she had the plan, why else would it be on there with an amount next to it right?). Well what happens to that saved up money? Does the company keep it or they just let it float around? I only ask because if anything it’s still my mothers money and technically would belong to her family…so how would one go about claiming it?
Pamela
My mother passed away 4 years ago, and I just remembered that she had a 401k plan because it was listed on her paycheck statement (I’m assuming she had the plan, why else would it be on there with an amount next to it right?). Well what happens to that saved up money? Does the company keep it or they just let it float around? I only ask because if anything it’s still my mothers money and technically would belong to her family…so how would one go about claiming it?
Pamela
