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Beneficiary planning

Strategies for required minimum distributions, rollovers, and transfers for beneficiaries of IRAs and employer-sponsored retirement plans.

Designated Beneficiary

Definition A designated beneficiary is a beneficiary whose life expectancy is eligible to be used to calculate required minimum distributions (RMD) for a qualified plan,

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Death benefit exclusion

Definition Death benefits that can be excluded from income. The beneficiary of a deceased employee (or former employee), who died before August 21, 1996, may

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Death benefit

Definition Benefits received  by the beneficiary of a deceased: participant, insurance policy owner, annuity owner nonqualified deferred compensation plan participant etc upon the participant’s/owner’s death

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IRA Rules