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Question: If I had money saved in a 401k or Roth IRA, what if I died before I retired? What would happen to the money? Would it go back to the government or to a close relative?
Question: If I had money saved in a 401k or Roth IRA, what if I died before I retired? What would happen to the money? Would it go back to the government or to a close relative?
You can (and should) assign a beneficiary for the account. They receive the money if you die.
You declare your beneficiaries when signing up - it goes to them, I believe.