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Print Reset Page 202 W. First Street, Suite 500 Los Angeles, CA 90012-4401 (800) 779-8328 TDD (888) 349-3996 Fax: (213) 687-4174 www.LACERS.org DESIGNATION OF BENEFICIARY FOR UNUSED CONTRIBUTIONS

How to fill out designation of beneficiary for

How to fill out designation of beneficiary for:

1. Gather the necessary paperwork, including the designation of beneficiary form provided by your employer or financial institution.
2. Fill in your personal information accurately, including your full name, address, and contact information.
3. Provide the details of the beneficiary, such as their full name, relationship to you, and contact information.
4. Clearly specify the percentage or amount that you want to assign to each beneficiary. You may also include contingent beneficiaries in case the primary beneficiaries cannot receive the benefits.
5. Review the form carefully to ensure all the information is correct and complete.
6. Sign and date the form, adhering to any witness or notary requirements if necessary.
7. Submit the completed designation of beneficiary form to your employer or financial institution, following their specific instructions.

Who needs designation of beneficiary for:

1. Employees: Many employees are required to complete a designation of beneficiary form for their workplace retirement plans, such as a 401(k) or pension plan. This ensures that the benefits go to the intended individuals in the event of their death.
2. Life Insurance Policyholders: If you have a life insurance policy, it is essential to designate one or more beneficiaries to receive the death benefit. This ensures that the funds go to the intended recipients and can provide financial support.
3. Retirement Account Holders: Individuals with Individual Retirement Accounts (IRAs) or other retirement accounts should designate beneficiaries to ensure that their savings are passed on according to their wishes.
4. Investment Account Holders: Some investment accounts allow for designation of beneficiaries. It is important to designate them to simplify and expedite the transfer of assets upon your death.
5. Estate Planning: Individuals who engage in estate planning often consider beneficiary designations as part of their overall strategy. Properly designating beneficiaries for various assets can help avoid probate and ensure the smooth transfer of wealth to loved ones.

Remember to consult with a legal or financial professional for guidance specific to your situation.

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What is designation of beneficiary for?

Designation of beneficiary is for specifying who will receive assets or benefits upon the death of the account holder or policy holder.

Who is required to file designation of beneficiary for?

Anyone who has assets or benefits that have a designated beneficiary must file a designation of beneficiary form.

How to fill out designation of beneficiary for?

To fill out a designation of beneficiary form, you will need to provide the name, contact information, and relationship of the beneficiary.

What is the purpose of designation of beneficiary for?

The purpose of designation of beneficiary is to ensure that assets or benefits are distributed according to the account holder's wishes upon their death.

What information must be reported on designation of beneficiary for?

The information required on a designation of beneficiary form typically includes the beneficiary's full name, address, date of birth, and relationship to the account holder.