What is the name of your state? FL
Background: My father passed away in April '04, and my 3 siblings and I are the beneficiaries of his 401K death benefits. One of my siblings and I filled out and returned the Alternate Payee Distribution Form that we were given, but the process has been put on hold by my father's former employer (TA). They claim they're trying to find out how to distribute the funds, since 2 of my siblings are minors, and if they can distribute the funds separately. The representative that's supposed to be handling this matter doesn't return my emails and avoids my calls, and after 2 months, she hasn't given me any new information at all about the situation. I used to think they were just incompetent, but now I'm worried that they're giving me the run around.
Questions: Is the company not required to pay out death benefits after a certain amount of time has passed? Does the Dept. of Labor regulate how death benefits are to be distributed, or can each company have it's own rules about "whether or not all distributions have to be done at the same time" or "what to do if a benificiary is a minor?"
Thanks in advance,
Ruka
Background: My father passed away in April '04, and my 3 siblings and I are the beneficiaries of his 401K death benefits. One of my siblings and I filled out and returned the Alternate Payee Distribution Form that we were given, but the process has been put on hold by my father's former employer (TA). They claim they're trying to find out how to distribute the funds, since 2 of my siblings are minors, and if they can distribute the funds separately. The representative that's supposed to be handling this matter doesn't return my emails and avoids my calls, and after 2 months, she hasn't given me any new information at all about the situation. I used to think they were just incompetent, but now I'm worried that they're giving me the run around.
Questions: Is the company not required to pay out death benefits after a certain amount of time has passed? Does the Dept. of Labor regulate how death benefits are to be distributed, or can each company have it's own rules about "whether or not all distributions have to be done at the same time" or "what to do if a benificiary is a minor?"
Thanks in advance,
Ruka
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