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What Happens to Participants’ 457(b) Deferral Elections When they Pass Away?

What Happens to Participants’ 457(b) Deferral Elections When they Pass Away?

by Jeff Chang | Oct 27, 2021 | 457(b) Plans, Fiduciary Responsibilities, Income Tax, Plan Administration, Record Keeping

Just the other day, a public agency client contacted us to find out what to do with a participant’s 457(b) plan deferral election following the participant’s untimely death due to COVID. As with most cases, cities and special districts would owe the former employee...

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