Handy Chart
Chart: Beneficiary Options 2009
2 Charts: Death Before Participant Reached Required Beginning Date (RBD) For Taking Minimum Distributions and Death On or After Participant Reached Required Beginning Date (RBD) For Taking Minimum Distributions (McKay Hochman Co., Inc.). Here is link: http://www.mhco.com/Library/Articles/2007/Beneficiary_Chart_020607.htm
Permalink Submitted by Anonymous (not verified) on Mon, 2009-07-13 17:29
I like the link at the bottom to the [u]Final Regs[/u], which are always the best source document for those real complex issues.
pmk
Permalink Submitted by Alan Spross on Mon, 2009-07-13 17:54
I don’t think this chart has been updated for WRERA, when applicable.
Notwithstanding that, I wonder where they are getting the conclusion that a transfer to inherited IRA cannot be done when there are multiple designated beneficiaries or if employee passed after RBD that the transfer is available based on the beneficiary age vrs the deceased employee age.
Granted, these transfers must be direct transfers and 401(a)31 only requires ONE such transfer. Accordingly, if there are more than one non spouse beneficiary, there does not appear to be anything preventing the plan from offering more than one transfer so that each non spouse beneficiary can secure their own inherited IRA.
Finally, when a chart shows “Available”, it would be nice if they distinguised between optional and required.