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Asked 8/13/2009
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What Happens to you're 401k account if you pass away before retirement? Will a Beneficary inherit all that invested?
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Answer 1/1 - Submitted 8/13/2009
When you signed up for the 401(k), one of the forms would have let you choose one or more beneficiaries, to receive the money in the account if you died before it was all withdrawn. It isn't required that you name a beneficiary. If you didn't, the money is paid into your estate, to be distributed to your heirs under the instructions in your will (or the laws of the state, if you have no will).
The state will not take your retirement, and it doesn't disappear. You earned it; either you or your heirs will get the benefit of it.
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