IRA beneficiary
If the primary beneficiary of an IRA is alive but chooses to disclaim the proceeds of an inherited IRA, will the proceeds then go to the contingent beneficiary? I have a MYGA IRA annuity and they are telling me that if the primary beneficiary is alive they have to pay the proceeds to that person. Thanks for any ones help.
Permalink Submitted by Alan - IRA critic on Thu, 2021-02-04 22:53
Yes, it goes to the contingent beneficiary. Either they are indicating that they do not accept disclaimers or the representative may have simply been wrong, I would contact them again. Almost all retirement plan custodians accept disclaimers, but that may not include life companies.