Designate Beneficiaries
It is important to have accurate and up-to-date beneficiary information so that benefits at your death are transferred to the appropriate persons. The following are typical beneficiary designations:
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| Your spouse as the primary beneficiary and your children as contingent beneficiaries. |
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| One person as the primary beneficiary; e.g. spouse, child, brother, or sister. |
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| Two equal primary beneficiaries; e.g. mother and father, brother and sister. |
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| One primary beneficiary and two contingent beneficiaries; e.g. primary - friend, secondary - brother and sister. |
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| Estate as primary beneficiary; e.g. the name of the executor or administrator. |
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| Trustee as primary beneficiary in a living trust agreement; e.g. full legal name and address of bank or other institution or its successors, as trustee under a trust agreement, including date of agreement. |
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| Institution as primary beneficiary; e.g. full legal name and address of institution. |
By default the system will list your dependents as beneficiaries.
To designate beneficiaries:
| 1. |
Enter distribution percentages for the primary and contingent beneficiaries.
When designating beneficiaries, use whole percentages. Be sure each group, primary and contingent (if any) totals 100%.
If you have already designated beneficiaries for other plan(s), you will be provided with the option to copy the predefined beneficiary designations from an existing plan to the new plan. Simply select the radio button next to the plan you wish to copy. |
To omit or remove a beneficiary:
| 1. | Simply leave blank or remove designated percentage values corresponding to the beneficiary you wish to omit or remove and re-assign distribution percentages for the remaining beneficiaries. Be sure each group (primary and contingent) totals 100%. |
To edit beneficiary information who is not a dependent:
| 1. | Click on the corresponding Edit button of the beneficiary whose information you wish to change. |
To delete a beneficiary who is not a dependent:
| 1. | Click on the corresponding Delete button of the beneficiary whom you would like to delete. |
To add a beneficiary:
| 1. | Click Add, located at the bottom of the page. |