First and foremost, we extend our sincerest condolences for your loss. We understand this is a difficult time for you and the employee’s loved ones, and we aim to make this process as smooth as possible.
The first step as the plan administrator is to update the deceased participant’s status to “Dismissed” in payroll. You can find more information on how to do so here.
Additionally, Guideline will need the contact information for the participant’s beneficiary. If the participant has not designated a beneficiary, the default beneficiaries are as follows:
Surviving spouse
Children, per stirpes
Parents, equal shares
Estate
See the Summary Plan Description for more information.
Any contact information you have for the participant’s family will also be helpful. Feel free to share this helpful on how beneficiaries can claim funds for a participant who passed away.