Navigating Inherited 401(k) Discrepancies: A Guide for Beneficiaries
Following the death of a loved one, beneficiaries may face challenges in managing inherited 401(k) accounts, especially when expected balances are missing. In a case where a 401(k) account showed only $20,000 instead of a larger expected amount, the plan administrator is the first point of contact for clarification. Legal authority, such as being an executor, is required to access account details. The Department of Labor's Employee Benefits Security Administration can assist if issues arise in obtaining necessary information.