Did You Know 401k participants need to elect a beneficiary?
Electing a beneficiary for your 401k plan clears up so many potential issues for those you leave behind and ensures your wishes are followed. Sounds simple, but unfortunately, too many never elect a beneficiary. Not electing a beneficiary can and does lead to many problems for heirs, family members, significant others, and even the plan sponsor. Over the next few weeks, MVP will look at this very important, but often overlooked, issue.
If you have questions about your beneficiaries in the meantime, feel free to give us a call!