Get the free 457(b) PLAN BENEFICIARY DESIGNATION FORM

457 DESIGNATION OF BENEFICIARY FORM Use this form to designate your beneficiary(IES) for your retirement account. Please complete a separate form for each employer plan account. CMA RETIREMENT CORPORATION1

How to fill out 457b plan beneficiary designation

How to fill out 457b plan beneficiary designation

1. Begin by obtaining the necessary beneficiary designation form from your 457b plan administrator. This form may be available online or you may need to request it directly from the administrator.
2. Carefully read and understand the instructions provided with the form. These instructions will guide you through the process of filling out the beneficiary designation form accurately.
3. Provide your personal information as the plan participant, including your full name, date of birth, and contact information.
4. Identify the primary beneficiary or beneficiaries. The primary beneficiary is the person or persons who will receive the 457b plan assets upon your death. Provide their full names, dates of birth, and relationship to you.
5. Determine the percentage of the plan assets that each primary beneficiary will receive. This distribution can be divided equally among multiple primary beneficiaries or allocated based on specific percentages.
6. If desired, designate contingent beneficiaries. These individuals will receive the assets if the primary beneficiary is unable to do so.
7. Provide the necessary information for the contingent beneficiaries, including their full names, dates of birth, and relationship to you.
8. Review the completed beneficiary designation form carefully to ensure all information is accurate and complete.
9. Sign and date the form according to the instructions provided.
10. Submit the completed and signed beneficiary designation form to your 457b plan administrator. Keep a copy for your records.

Who needs 457b plan beneficiary designation?

1. Anyone who has a 457b plan should consider filling out a beneficiary designation form. This ensures that your assets are distributed according to your wishes upon your death. It is especially important if you have dependents or loved ones who rely on your financial support. By designating beneficiaries, you have control over who will receive your plan assets, potentially avoiding conflicts or confusion among family members. It is recommended to review and update your beneficiary designation periodically to ensure it reflects any changes in your personal circumstances.

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What is 457b plan beneficiary designation?

A 457b plan beneficiary designation is a form that allows participants in a 457b deferred compensation plan to name individuals or entities who will receive their benefits upon their death.

Who is required to file 457b plan beneficiary designation?

All participants in a 457b plan are encouraged to file a beneficiary designation to ensure their benefits are distributed according to their wishes.

How to fill out 457b plan beneficiary designation?

To fill out the 457b plan beneficiary designation, participants need to provide their personal information, select beneficiaries, and their relationship to the beneficiaries, and sign and date the form.

What is the purpose of 457b plan beneficiary designation?

The purpose of a 457b plan beneficiary designation is to clearly outline how an individual's retirement benefits should be distributed in the event of their death, ensuring that the intended parties receive the benefits.

What information must be reported on 457b plan beneficiary designation?

The information that must be reported includes the participant's name, the names of the beneficiaries, their relationship to the participant, the percentage of benefits for each beneficiary, and the participant’s signature and date.