Is there a time limit for a retirement system to hold pension funds to listed beneficiaries?

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Is there a time limit for a retirement system to hold pension funds to listed beneficiaries?

My mom passed about 6 months ago and I contacted OH. Public Retirement Systems to see if she had refundable pension funds with them. They asked for information for all of my siblings information, which was given. They asked if anyone was incompetent and I stated no, however my older brother has had issues with his mental health (but that he is still a fully functional adult). I’m assuming the associate I spoke with marked him incompetent and that’s where the issues started. They have been trying to contact him to see if he’s incompetent and he refuses to contact them for personal reasons.

Asked on April 27, 2011 under Estate Planning, Ohio

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

The issue here is you offered information that didn't change legally anything to which your sibling was entitled to but the person working for the fund did and now you have to undue it. The best bet and route is to get your sibling (somehow convince him) to talk to the Retirement System and move this along. The only other way is to schedule a meeting with the director of the retirement system and see if that would help smooth things over. Otherwise, you may be stuck going into probate court and getting an order to declare him competent and move forward with the payment.


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