Designate Your Beneficiaries
Designate or review your Retirement Plan account beneficiary. Sometimes taking care of those we love requires us to take action now, so that important things aren’t left to chance in the future.
A will is not always the way!
While a will is a very important estate planning tool, the beneficiary designation you make in your will does not apply to your retirement savings plan account. Without a suitable beneficiary designation, your retirement savings plan assets will be distributed according to the plan’s provisions. So, it’s very important to establish and maintain a retirement plan beneficiary designation that is separate from your will.
Source: Invesco. For illustrative purposes only.
Keep your designation current
Already have a beneficiary on file? Even after you’ve made your initial designation, don’t assume that your designation will be appropriate for the remainder of your life! Remember to review your beneficiary elections at least annually or whenever you experience a life change, such as the birth or adoption of a child, marriage, or divorce.
Sign in to your account and follow the instructions provided to designate or change your beneficiary today!
For more information, Contact your MCF Financial Advisor, today!
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