What Happens to 401(k) When You Die?
When you pass away, your 401k doesn’t disappear; it gets passed on to your beneficiaries. What happens to 401k when you die depends on the plan's rules and your designated beneficiaries. Typically, the funds can be transferred to a spouse, children, or another person you’ve named. If no beneficiary is listed, the assets may go to your estate and be subject to probate. Taxes and required distributions may apply, so planning ahead is crucial.
15-Oct-2024 05:57 pm
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Federal Pay Raise for 2024: In 2024, federal employees will see an average pay raise of 5.2%, broken down into a 4.7% increase in GS base pay and a 0....
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