DEATHS AFTER DECEMBER 31, 2019
01.Core Concepts
BENEFICIARY DESIGNATION CATAGORIES FOR DEATHS AFTER DECEMBER 31, 2019 • SECURE Act modified distribution rules for beneficiaries for deaths occurring after 2019. There are now two broad categories of named beneficiaries: 1. Eligible 2. Ineligible • Eligible beneficiary: 4 types 1. Surviving spouse 2. Minor child of the deceased participant 3. Disabled or chronically ill 4. Individual not more than 10 years younger • Ineligible beneficiary • Does not meet the definition of an eligible beneficiary • Cannot stretch over lifetime