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This document is used to designate beneficiaries for a 403(b) retirement plan, allowing account owners to specify individuals or trusts that will receive funds upon their death.

How to fill out 403b beneficiary designation

How to fill out 403(b) Beneficiary Designation

1. Obtain the 403(b) Beneficiary Designation form from your plan provider or employer.
2. Fill in your personal information, including your name, address, and Social Security number.
3. Identify your primary beneficiaries by providing their names, relationships to you, and their Social Security numbers if required.
4. If desired, identify contingent beneficiaries who will inherit if the primary beneficiaries cannot.
5. Review the form for accuracy, ensuring that all information is complete and correct.
6. Sign and date the form as required.
7. Submit the completed form to your plan administrator by mail, fax, or in person, as specified by your provider.

Who needs 403(b) Beneficiary Designation?

1. Employees participating in a 403(b) retirement savings plan.
2. Individuals wishing to designate beneficiaries for retirement savings after their passing.
3. Anyone who wants to ensure their assets are distributed according to their wishes.

People Also Ask about

Is a spouse automatically the beneficiary of a 403b?

If you remarry, your new spouse will automatically be your beneficiary for at least 50% of your account unless (1) you designate another beneficiary (which could be your former spouse) and your new spouse consents to the designation, or (2) the death benefit has been assigned to your former spouse under a qualified

Does a spouse get a 403b after death?

For example, someone with a 403(b) plan may have named their spouse as the beneficiary. When that account holder passes away, the spouse inherits the 403(b) plan.

Are spouses automatically beneficiaries in Erisa?

A participant's beneficiary in a qualified retirement plan that is subject to the qualified joint and survivor annuity (QJSA) requirements under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (Code) is automatically his surviving spouse, unless the spouse has waived his rights

How do I fill out a beneficiary designation?

Most beneficiary designations will require you to provide a person's full legal name and their relationship to you (spouse, child, mother, etc.). Some beneficiary designations also include information like mailing address, email, phone number, date of birth and Social Security number.

What is the beneficiary designation for a 403b?

403(b) Beneficiary Designation Someone with a 403(b) plan can designate anyone as a beneficiary. However, 403(b) beneficiary rules require a married person to designate their spouse to receive at least 50% of the plan's vested balance, unless the spouse has signed a waiver relinquishing their portion of the funds.

What do you write in a beneficiary type?

Write the names of the first beneficiary(ies) you would like to receive your benefit after you die. You may name an individual(s), entity (such as a charity, business, religious organization, funeral home, etc.), trust, or estate. You may name more than one.

Is a spouse an eligible designated beneficiary?

(5) Sole Beneficiary Surviving Spouse: An individual is considered the surviving spouse of the account owner as of the date of the account owner's death. Surviving spouse must be the sole beneficiary to be considered an EDB.

Does your spouse automatically become your beneficiary?

If you're not married you can choose anyone to be your beneficiary. However, if you're married, or are planning to get married, please be aware that by law, your spouse is your default beneficiary, regardless of who you may have been your beneficiary before getting married.

For pdfFiller’s FAQs

What is 403(b) Beneficiary Designation?

A 403(b) Beneficiary Designation is a legal document that allows an individual to specify who will receive their funds from a 403(b) retirement plan in the event of their death.

Who is required to file 403(b) Beneficiary Designation?

Participants in a 403(b) retirement plan are required to file a Beneficiary Designation to ensure that their chosen beneficiaries receive the funds after their death.

How to fill out 403(b) Beneficiary Designation?

To fill out a 403(b) Beneficiary Designation, obtain the form from your plan administrator, provide required personal information, clearly identify your beneficiaries (including names and relationships), and sign and date the form.

What is the purpose of 403(b) Beneficiary Designation?

The purpose of a 403(b) Beneficiary Designation is to clarify the distribution of retirement assets upon the participant's death, ensuring the selected beneficiaries receive the funds without legal complications.

What information must be reported on 403(b) Beneficiary Designation?

The information that must be reported on a 403(b) Beneficiary Designation includes the participant's name, account number, beneficiary names, their relationship to the participant, and contact information for each beneficiary.