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This form is used by members of the Stanislaus County Employees’ Retirement Association to designate beneficiaries for benefits payable upon the member's death in accordance with the 1937 Act. It

How to fill out beneficiary designation

How to fill out Beneficiary Designation

1. Obtain a Beneficiary Designation form from your financial institution or insurance provider.
2. Fill in your personal information, including your name, address, and account number.
3. Identify the primary beneficiary by providing their name, relationship, and contact information.
4. If desired, list contingent beneficiaries who will receive the benefits if the primary beneficiary is unable to do so.
5. Specify the percentage of benefits each beneficiary will receive, ensuring the total equals 100%.
6. Review the completed form for accuracy and ensure all required fields are filled out.
7. Sign and date the form to authenticate your designation.
8. Submit the form to your financial institution or insurance provider, and retain a copy for your records.

Who needs Beneficiary Designation?

1. Individuals with life insurance policies.
2. Account holders of retirement accounts (IRA, 401(k)).
3. Investors with brokerage accounts.
4. Homeowners with mortgage life insurance.
5. Any person wanting to ensure specific individuals receive assets upon their death.

People Also Ask about

What is the designation of a beneficiary?

Meaning of beneficiary in English. a person or group who receives money, advantages, etc. as a result of something else: Her wife was the chief beneficiary of her will.

Does beneficiary mean recipient?

A beneficiary is simply the recipient of money or other benefits.

What does it mean when it says beneficiary name?

A beneficiary is the person or entity that you legally designate to receive the benefits from your financial products. For life insurance coverage, that is the death benefit your policy will pay if you die. For retirement or investment accounts, that is the balance of your assets in those accounts.

What does beneficiary name translate to in English?

In estate planning, a beneficiary is any person or entity you designate to receive an asset after you're gone. Naming beneficiaries is an integral part of several different estate planning elements, including: A will. Life insurance policies. Qualified retirement plans, including any 401(k), 403(b) and pensions.

What is the meaning of beneficiary name in English?

1. a person or group that receives benefits, profits, or advantages. 2. a person designated as the recipient of funds or other property under a will, trust, insurance policy, etc. 3.

Is the beneficiary name the bank name?

Additional tips for creating wires: • “beneficiary” is the person/entity you are sending the wire to. “beneficiary bank” or “beneficiary FI (financial institution)” is the final bank you are sending the wire to.

For pdfFiller’s FAQs

What is Beneficiary Designation?

Beneficiary Designation is a legal document that allows an individual to designate one or more beneficiaries to receive assets or benefits from a financial account, insurance policy, or retirement plan upon the individual's death.

Who is required to file Beneficiary Designation?

Individuals who own accounts such as retirement plans, life insurance policies, or other investment accounts are typically required to file a Beneficiary Designation to ensure that their assets are distributed according to their wishes.

How to fill out Beneficiary Designation?

To fill out Beneficiary Designation, one should obtain the appropriate form from the financial institution, provide accurate personal information, identify the beneficiaries (including their names, relationship, and contact information), and sign and date the form before submitting it.

What is the purpose of Beneficiary Designation?

The purpose of Beneficiary Designation is to clearly outline who will receive certain assets upon the death of the account holder, thereby simplifying the transfer of assets and avoiding probate.

What information must be reported on Beneficiary Designation?

The information that must be reported includes the names of the beneficiaries, their relationship to the account holder, their Social Security numbers (if required), addresses, and the percentage of the asset or benefit each beneficiary is to receive.