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31 Instructions For Choosing Your Beneficiary NJ STATE EMPLOYEES DEFERRED COMPENSATION PLAN Please print using blue or black ink. Please keep a copy for your records and send the original form to

How to fill out deferred compensation beneficiary designation

To fill out a deferred compensation beneficiary designation, follow these steps:

1. Obtain the necessary form: Contact your employer or plan administrator to obtain the specific form for the deferred compensation beneficiary designation. They will provide you with the required paperwork.
2. Provide your personal information: Fill out your personal details accurately on the form. This typically includes your full name, date of birth, social security number, and contact information.
3. Review the beneficiary options: Understand the various beneficiary options available to you. Typically, you can choose primary beneficiaries and contingent beneficiaries. Primary beneficiaries will receive the assets first, while contingent beneficiaries will receive the assets if the primary beneficiaries are unable to.
4. Choose your beneficiaries: Carefully consider who you want to designate as beneficiaries. You can choose individuals, such as family members or friends, or organizations or institutions. Ensure you provide their full names, relationship to you, and contact information.
5. Specify the percentage or allocation: If you have multiple beneficiaries, you may need to indicate the percentage or allocation of the assets each beneficiary will receive. This helps determine the distribution of the assets among the beneficiaries.
6. Update regularly: Life events, such as marriage, divorce, or the birth of children, may prompt you to update your beneficiary designation. It is essential to review and update your designation regularly to ensure it aligns with your current wishes.

Who needs deferred compensation beneficiary designation?

Anyone who has a deferred compensation plan offered by their employer should consider filling out a beneficiary designation. This designation allows individuals to specify who will receive their deferred compensation assets in the event of their death. It provides clarity and certainty about the distribution of these assets according to their wishes. It is particularly important for those who have dependents or individuals they want to provide for after they pass away.

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What is deferred compensation beneficiary designation?

Deferred compensation beneficiary designation is the process of choosing who will receive your deferred compensation benefits in the event of your death.

Who is required to file deferred compensation beneficiary designation?

Employees participating in deferred compensation plans are required to file beneficiary designations.

How to fill out deferred compensation beneficiary designation?

You can typically fill out a beneficiary designation form provided by your employer or plan administrator.

What is the purpose of deferred compensation beneficiary designation?

The purpose of deferred compensation beneficiary designation is to ensure that your benefits are distributed according to your wishes upon your death.

What information must be reported on deferred compensation beneficiary designation?

You must typically report the full name, date of birth, and relationship to you of the beneficiary.