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How to Avoid Costly Beneficiary Designation Litigation – Helpful Hints for All Benefit Plans

 

To avoid costly litigation, employers should review the beneficiary designation language in their plan documents.

SPDs, online discussions, and any other employee communications about their plans should be reviewed by employers as well. Having specific and consistent directions on how to change a beneficiary designation is helpful and can be critical for those who administer the plan in ensuring that they follow the plan’s written terms.