Common Law Marriage and Your 401(k)

September 12, 2015

Common Law Marriage and Your 401(k)

Some states (like CO) have very loose rules when it comes to common law marriage. Under the Employee Retirement Income Security Act (ERISA), your spouse must be named the beneficiary of some retirement plans like 401(k)s, so what do you do when a non-spouse could be considered a spouse under common law? Jim, Chris and Peter discuss this topic and also answer some very good questions from listeners: What can you do if the Social Security Administration makes a mistake? Do contributions to a 401(k), FSA, HSA, IRA and other such accounts reduce your future Social Security Benefits? Why wait until you are 70 1/2 to claim your Social Security benefit? And… how can you ensure that Social Security survivor benefits intended for the children of the deceased are actually used for the children’s benefit?

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Jim Saulnier and Associates | 970-530-0556 | 506 East Mulberry Street, Fort Collins, Colorado 80524

Jim Saulnier, Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC to residents of: CO, IA, IN, MA, NY, TN, TX, WI and WY. No offers may be made to or accepted from any resident outside the specific states mentioned. Jim Saulnier, Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Financial Planning services offered through Jim Saulnier and Associates, LLC., a Registered Investment Advisor. Cambridge and Jim Saulnier & Associates, LLC are not affiliated.