Browsed by
Category: Pension Beneficiary

Designated Pension Beneficiary Denied Deceased Pensioner’s Pension; Here’s Why

Designated Pension Beneficiary Denied Deceased Pensioner’s Pension; Here’s Why

Just because you designate someone as your pension beneficiary does not mean they will be legally entitled to receive it after you pass. A recent case illustrates just how complicated things can get. Verizon Emp. Bens. Comm. v Nikolaros, No. 23-cv-1982, 2025 U.S. Dist. LEXIS 49340 (E.D. N.Y. Mar. 18, 2025). Here’s what happened. Nick Nikolaros was born on October 13, 1970 and died on June 5, 2020 (at age 49). At the time of his death Nick was employed…

Read More Read More

Follow Your Pension Plan’s Pension Beneficiary Instructions; Otherwise THIS Unfortunate Result Could Happen

Follow Your Pension Plan’s Pension Beneficiary Instructions; Otherwise THIS Unfortunate Result Could Happen

A recent Court of Appeals case highlights the importance of carefully following the beneficiary instructions in your 401(k) plan. Gelschus v. Hogen, No. 21-3453, (8th Cir. Aug. 29, 2022). Here’s what happened in that case. business people fighting over some us money Sally Hogen was a participant in Honeywell International Inc.’s 401(k) plan. She originally designated her husband Clifford as the sole beneficiary of her 401(k) account in the event of her death. But Sally and Clifford divorced in 2002,…

Read More Read More