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This presentation pertains to all active and deferred members who are in the Defined Benefit Plan of the Alaska Public Employees Retirement System (PERS) and Teachers’ Retirement System (TRS). It

How to fill out beneficiary designation

How to fill out Beneficiary Designation

1. Gather the necessary information for the beneficiary (name, relationship, contact information).
2. Obtain the Beneficiary Designation form from your insurance provider or financial institution.
3. Fill in your personal information at the top of the form.
4. Clearly write the name of the primary beneficiary, including their relationship to you.
5. If desired, add contingent beneficiaries in case the primary beneficiary is not available.
6. Review the form for accuracy and completeness.
7. Sign and date the form as required.
8. Submit the completed form to the appropriate institution.

Who needs Beneficiary Designation?

1. Anyone with life insurance policies.
2. Individuals with retirement accounts (e.g., 401(k), IRA).
3. Those with bank accounts that allow for transfer on death (TOD).
4. People planning their estate and leaving assets to heirs.
5. Guardians of minor children who want to designate benefits for them.

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 the process of naming individuals or entities to receive assets from a financial account, insurance policy, or retirement plan upon the account holder's death.

Who is required to file Beneficiary Designation?

Typically, account holders of retirement plans, life insurance policies, and certain financial accounts are required to file a beneficiary designation.

How to fill out Beneficiary Designation?

To fill out a beneficiary designation, you must provide the full name, relationship, and contact information of the beneficiary, along with any specific instructions regarding how the assets should be distributed.

What is the purpose of Beneficiary Designation?

The purpose of beneficiary designation is to ensure that assets are transferred quickly and directly to the designated beneficiaries without going through 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 contact information, and sometimes the percentage of the asset they will receive.