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Category: Pension Beneficiary

Follow Your Pension Plan’s Pension Beneficiary Instructions; Otherwise THIS Unfortunate Result Could Happen

Follow Your Pension Plan’s Pension Beneficiary Instructions; Otherwise THIS Unfortunate Result Could Happen

A recent Court of Appeals case highlights the importance of carefully following the beneficiary instructions in your 401(k) plan. Gelschus v. Hogen, No. 21-3453, (8th Cir. Aug. 29, 2022). Here’s what happened in that case. Sally Hogen was a participant in Honeywell International Inc.’s 401(k) plan. She originally designated her husband Clifford as the sole beneficiary of her 401(k) account in the event of her death. But Sally and Clifford divorced in 2002, and their marital termination agreement (MTA) said…

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Widow’s Release Of Claims Against Deceased Husband’s Estate Did Not Extinguish Her Right To His Pension Account

Widow’s Release Of Claims Against Deceased Husband’s Estate Did Not Extinguish Her Right To His Pension Account

It makes me sad to learn when heirs fight over a decedent’s assets, especially when it involves a widow’s surviving spouse pension benefits, as occurred in Goins v. Tona L. Goins & Nat’l Elec. Annuity Plan, No. 16-cv-01281, 2017 U.S. Dist. LEXIS 71387 (S.D. Ill. May 10, 2017). In Goins, Robert Goins passed away and was survived by his wife Tona Goins and two adult sons who were Tona’s step sons. Sometime after Robert’s death, a dispute arose between Tona…

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