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My father passed away in October. He had a 401k, we are unable to find paperwork that state's beneficiaries. It is through Wells Fargo. They are not helpful over the phone, we also had a lawyer send a letter asking the same info. Help...

Mar 23, 2013 by Jen from Plainfield, IL in  |  Flag
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3 votes

Jen - Generally, beneficiary information is maintained by the employer who sponsors the 401(k) plan. Try contacting the human resources department at your father's employer.

Comment   |  Flag   |  Mar 24, 2013 from Morristown, NJ

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Jason Hull Level 20

A quick way to find out good contact information is to go to the Brightscope home page. Type in your father's employer in the RIGHT HAND search box (the left hand one will just get you a list of financial advisors). Then click on the Form 5500 tab in the results and you will get both the company plan point of contact and the 401k plan administrator point of contact information. You'll probably need to get the executor of the estate to do the coordination on this.

Comment   |  Flag   |  Mar 24, 2013 from Fort Worth, TX

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Linda, you need to contact the plan administrator and get a distribution form. This form will likely need to be signed off by Human Resources. Contact HR to get the form if they provide it, but you will probably need to get the contact number for the plan administrator, who will provide you the form.

This sounds like preaching, because, I guess, it is. But unless it is a dire emergency, you should try to save these funds earmarked for retirement and roll them into an IRA. You would avoid income taxation plus 10% penalty if you’re under 55. When you get to retirement age you may need these funds even more than you need them now

2 Comments   |  Flag   |  Mar 27, 2013 from Delray Beach, FL
Michael Steven Greenberg, CFP®

Oops.

Flag |  Mar 27, 2013 near Delray Beach, FL
Michael Steven Greenberg, CFP®

OOPS. sorry Jen . I posted answer to someone else question. Your answer should be.......Jen, you need to contact the plan administrator. Though HR may or may not be helpful, the plan administrator, as the name implies, actually administers the plan and will have your needed information. Call HR and get the number for the plan administrator.

Flag |  Mar 27, 2013 near Delray Beach, FL

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Jen,

Was he an employee of Well Fargo, or was his pension plan through Wells Fargo...

I'll try and find a contact for you if I know which...

Thanks

Rod Miller, CFP, CLU, ChFC

Comment   |  Flag   |  Mar 24, 2013 from Springfield, MO

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