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Coffee Talk with Benefits Episode 2: Benefit Plan Beneficiary Designation Issues
Navigating the proper treatment of a deceased member’s plan benefits is an all too common concern for pension administrators. What is the problem ? It sounds like it should be quite simple – just pay the beneficiary – but in practice it can be a major headache. How do plan administrators ultimately decide who is the right beneficiary and who will receive plan benefits? How do beneficiary designations work in the context of a divorce? What happens if the participant has not designated a beneficiary at all? What can employers and plan administrators do to help alleviate common challenges associated with beneficiary designations? Grab your cup of coffee and listen to Richard and Sarah chat with Seyfarth Executive Compensation and Benefits Partner Jennifer Kraft about these burning issues and more!
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