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This form is used for designating beneficiaries for the 403(b) retirement plan at Michigan State University, allowing participants to specify who will receive their account balance in the event of

How to fill out 403b beneficiary designation

How to fill out 403(b) Beneficiary Designation

1. Obtain a 403(b) Beneficiary Designation form from your plan provider.
2. Fill in your personal information, including your name, address, date of birth, and Social Security number.
3. Identify your primary beneficiaries by providing their names, relationships to you, and their Social Security numbers.
4. If desired, identify contingent beneficiaries who will inherit if the primary beneficiaries are unable to.
5. Review the form to ensure all information is accurate and complete.
6. Sign and date the form to authenticate your designation.
7. Submit the completed form to your plan provider as instructed (mail, fax, or online).
8. Keep a copy of the submitted form for your records.

Who needs 403(b) Beneficiary Designation?

1. Anyone who has a 403(b) retirement account and wishes to designate beneficiaries for death benefits.
2. Employees of educational institutions, non-profits, or other qualified organizations offering a 403(b) plan.
3. Individuals who want to ensure their assets are distributed according to their wishes upon their death.

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?

The 403(b) Beneficiary Designation is a form that allows participants in a 403(b) retirement plan to specify who will receive the assets in their account upon their death.

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

All participants of a 403(b) retirement plan are required to file a Beneficiary Designation to ensure that their assets are distributed according to their wishes after death.

How to fill out 403(b) Beneficiary Designation?

To fill out the 403(b) Beneficiary Designation, participants typically need to provide their personal information, select one or more beneficiaries, and sign the form. Instructions may vary by plan.

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

The purpose of the 403(b) Beneficiary Designation is to provide clear instructions for the distribution of retirement assets to chosen beneficiaries in the event of the participant's death.

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

The information that must be reported on the 403(b) Beneficiary Designation includes the participant's name, Social Security number, the names and contact information of the designated beneficiaries, and the percentage of the asset each beneficiary will receive.