What happens to the account balance if a participant dies without naming a beneficiary?
As stated in section 9.12 of the Master Plan, the account balance would be distributed to survivors in the following sequence: 1) spouse 2) children 3) other descendants 4) parents 5) other ancestors 6) brothers/sisters 7) nephews/nieces 8) estate. For more information, refer to your NADART Classic Plan Administrative Manual or Investment Choice Plan Administrative Manual.
Related Questions
- If there are multiple events with a common finish line, what happens if a participant decides to switch from one event to another?
- What happens to the account balance if a participant dies without naming a beneficiary?
- What happens to the remainder when the Beneficiary passes away for Medicaid recipients?
