Get the free Beneficiary Designation Form - City of Chattanooga - chattanooga

CITY OF CHATTANOOGA GENERAL PENSION PLAN DESIGNATION OF BENEFICIARY (This form is used by new participants and current participants wishing to change beneficiaries) I designate as my primary beneficiary:

How to fill out beneficiary designation form

How to fill out a beneficiary designation form:

1. Obtain the beneficiary designation form from your insurance company, retirement plan administrator, or financial institution.
2. Read the instructions carefully to understand the requirements and guidelines for filling out the form.
3. Fill in your personal information accurately, including your full legal name, date of birth, and social security number or other identifying information.
4. Indicate the type of account or policy for which you are designating a beneficiary, such as a life insurance policy, retirement account, or investment account.
5. Provide the beneficiary's full legal name, relationship to you, and their contact information.
6. If you have multiple beneficiaries, specify the percentage or amount each beneficiary should receive, ensuring the total distribution adds up to 100% or the desired allocation.
7. Consider including contingent beneficiaries, who would receive the funds or benefits if the primary beneficiaries are unable to do so.
8. Date and sign the form, ensuring your signature is consistent with the one on file with the institution administering the account or policy.
9. Submit the completed form to the appropriate institution or individual as specified in the instructions.

Who needs a beneficiary designation form:

1. Individuals who have life insurance policies, retirement plans, or investment accounts that allow for the naming of beneficiaries.
2. People who want to ensure a smooth and efficient transfer of their assets or benefits to their chosen recipients upon their death.
3. Anyone who wishes to designate specific individuals or entities to receive their assets instead of relying on default inheritance laws or probate processes.

For pdfFiller’s FAQs

What is beneficiary designation form?

A beneficiary designation form is a legal document that allows an individual to specify who will receive certain assets or benefits upon their death.

Who is required to file beneficiary designation form?

The person or entity who owns or holds the assets or benefits and wishes to designate a beneficiary must file the beneficiary designation form.

How to fill out beneficiary designation form?

To fill out a beneficiary designation form, you typically need to provide your personal information, such as your name, contact details, and Social Security number, as well as the designated beneficiary's information. You may also need to specify the assets or benefits being designated and any specific instructions.

What is the purpose of beneficiary designation form?

The purpose of a beneficiary designation form is to ensure that the assets or benefits of an individual are transferred to the intended beneficiary upon their death, without the need for probate.

What information must be reported on beneficiary designation form?

The information reported on a beneficiary designation form may include the owner's and beneficiary's personal information, details of the assets or benefits being designated, and any special instructions or contingencies.

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