Designate or review your Retirement Plan account beneficiary. Unless you want the government to pick who your assets are distributed to, it is tremendously important to have a stated beneficiary appointed for your employer-sponsored retirement plan account.
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 into your account and follow the instructions provided to designate or change your beneficiary today!
IMPORTANT DISCLOSURE INFORMATION
MCF Advisors, LLC (“MCF”) is an SEC-registered investment adviser. For informational purposes only. Not a recommendation of any particular security or strategy. Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by MCF), or any non-investment related content, made reference to directly or indirectly in this presentation will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this presentation serves as the receipt of, or as a substitute for, personalized investment advice from MCF. To the extent that a reader has any questions regarding the applicability of any specific issue discussed herein to his/her/its individual situation, he/she/it is encouraged to consult with the professional advisor of his/her/its choosing. MCF is neither a law firm nor a certified public accounting firm and no portion of the presentation content should be construed as legal or accounting advice. A copy of MCF’s current written disclosure statement discussing our advisory services and fees is available upon request. If you are an MCF client, please remember to contact MCF in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing / evaluating / revising our previous recommendations and/or services. The scope of the services to be provided depends upon the needs of the client and the terms of the engagement.