Your account balance will be paid to your designated beneficiary. If you are married when you die, your spouse will be your beneficiary, unless you have designated another beneficiary, with your spouse’s consent. You may designate a beneficiary by completing a Beneficiary Designation form.
What happens to my account balance if I die without a beneficiary?
If you die without a valid designation of beneficiary on file, the Plan will pay benefits to:
- Your surviving spouse, or if none, then
- Your surviving biological children and legally adopted children (in equal shares), or if none, then
- Your surviving parents (in equal shares), or if none, then
- Your estate.
If you do not have an estate, the Plan will distribute your account according to applicable state intestate succession law (i.e., the laws that determine how assets are distributed for individuals who die without a will).