Get the free Defined Benefit Beneficiary Change Request bFormb - Livingston County

Municipal Employees Retirement System of Michigan 1134 Municipal Way Lansing, MI 48917 800.767.2308 Fax: 517.703.9706 www.mersofmich.com Defined Benefit Beneficiary Change Request Form Please print

How to fill out defined benefit beneficiary change

1. To fill out a defined benefit beneficiary change form, start by obtaining the necessary form from your plan administrator or human resources department.
2. Carefully read the instructions provided on the form to ensure that you understand the requirements and any specific guidelines for completing the form.
3. Begin by entering your personal information in the designated fields, including your full name, address, social security number, and any other requested details.
4. Identify the specific retirement plan or pension account for which you are making the beneficiary change. This could be a company-provided pension plan, a government pension, or any other type of defined benefit plan.
5. Provide details regarding your current beneficiaries, if any, and any changes you wish to make. Clearly indicate the full name, relationship to you, and their respective percentages or share of the benefits.
6. If you wish to make multiple changes or have specific instructions, ensure that you attach any supporting documentation as required. This might include marriage or divorce certificates, birth certificates, or other relevant legal documents.
7. Review the completed form thoroughly to ensure accuracy and completeness. Check for any omissions or errors, as these could delay the processing of your beneficiary change request.
8. Sign and date the form in the designated areas, and consider having it witnessed or notarized if required by your plan administrator.

Now, let's address who needs a defined benefit beneficiary change:

1. Any individual who has a defined benefit plan, such as a pension or retirement account, may need to consider a beneficiary change. This could include employees who are part of a company pension plan or individuals who have a government-provided pension.
2. It is particularly important to review and update your designated beneficiaries in the event of major life changes, such as marriage, divorce, birth or adoption of a child, or the passing of a previously named beneficiary.
3. Even if you believe your current beneficiary designations are accurate, it is a good practice to periodically review and update them to ensure they align with your wishes and any changes in your personal circumstances.

Remember, it is crucial to consult with a qualified professional, such as an attorney or financial advisor, to ensure that your beneficiary designations align with your overall estate planning goals and objectives.

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What is defined benefit beneficiary change?

Defined benefit beneficiary change is a process where the designated recipient of a defined benefit pension plan is updated.

Who is required to file defined benefit beneficiary change?

The plan participant or the plan administrator is required to file a defined benefit beneficiary change.

How to fill out defined benefit beneficiary change?

To fill out a defined benefit beneficiary change, the participant must provide the updated information of the new beneficiary and submit it to the plan administrator.

What is the purpose of defined benefit beneficiary change?

The purpose of defined benefit beneficiary change is to ensure that the correct individual receives the pension benefits upon the participant's death.

What information must be reported on defined benefit beneficiary change?

The information that must be reported on a defined benefit beneficiary change includes the name, relationship, and contact details of the new beneficiary.