What to do when an OneDigital Retirement account holder dies
Report the death to OneDigital Retirement at 1-877-742-2021
When an account holder at OneDigital Retirement passes away, the next step depends on how the retirement accounts were set up. Accounts with beneficiary designations or trust ownership transfer outside of probate. Accounts titled solely in the deceased's name require the estate's legal representative to work with OneDigital Retirement to access and distribute the funds.
Gather the account holder's full name, date of birth, and any known account or policy numbers before contacting OneDigital Retirement.
Death claim process
Follow these steps to file a death claim with OneDigital Retirement:
Filing a claim
- Employer plan (401(k), 403(b), defined benefit): the plan's custodian and recordkeeper, which the employer that sponsors the plan contracts with
- Path Forward 401(k) or 403(b) pooled employer plan: Ascensus, which provides recordkeeping, trust and custody services for both plans
- Wealth-management or Private Client account: the custodian that sends the account statements
- Nonqualified deferred compensation or executive benefit plan: the employer's plan
- Frozen pension whose liability was transferred by purchasing an insurance annuity: the insurance company that issued the annuity
Required Documents
- The custodian's or recordkeeper's claim forms, the plan's custodian or recordkeeper for a plan; the account's custodian for a wealth-management account
- Most recent custodial account statement, for a wealth-management accountIt comes directly from the custodian.
What happens to each kind of account3
- Employer retirement plan
OneDigital's Form ADV states: "OneDigital does not hold custody of retirement plan clients' assets. Instead, retirement plan clients must contract separately with a broker-dealer, insurance company, or trust company for custodial services."1
OneDigital has no authority to withdraw or transfer plan assets out of the plan, so a death benefit from an employer plan is not paid by OneDigital. The plan's custodian and recordkeeper, which the sponsoring employer contracts with, handle it.1
- Pension
Where a frozen pension's liability was transferred by purchasing an insurance annuity, the insurance company that issued the annuity owes the benefit.1
- Investment account
A wealth-management or Private Client account's assets are held by its custodian, not OneDigital. OneDigital generally recommends Charles Schwab & Co., Fidelity Brokerage Services LLC, or Raymond James & Associates.2
OneDigital's custody of these accounts under the Advisers Act comes only from the fee deduction, standing letters of instruction and bill-pay authority the client grants.2
Accounts handled elsewhere1
- Ascensus
Recordkeeping, trust and custody for the Path Forward 401(k) and 403(b) pooled employer plans3
Not in OneDigital Retirement's published guidance2
- A claim form
- A mailing address for claim documents
Sources
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Data sourced from OneDigital Retirement primary sources (16 pages reviewed). How we research.
OneDigital Retirement death claims support
OneDigital Investment Advisors LLC (advisory services information)
Phone
OneDigital headquarters, Atlanta (Digital Insurance LLC)
Mailing address
Website
Death notifications go through general customer service.
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