Category Archives: Beneficiary Designation

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Summary Plan Descriptions: You Gotta Have Them, So Make the Most of Them

summary
Administrators of plans subject to ERISA (including plans sponsored by for-profit and nonprofit businesses and organizations[1]) must provide participants and beneficiaries with summary plan descriptions (“SPDs”) describing “the most important facts they need to know about their retirement and health benefit plans including plan rules, financial information, and documents on the operation and management of … Continue reading this entry

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

Employer
When administering an employee benefits plan, it is critically important to provide clear and specific instructions as to how a participant can designate a beneficiary. A recent federal district court opinion in Florida demonstrates the potential pitfalls that plan administrators may face with respect to disputes over beneficiary status and provides guidance as to how administrators … Continue reading this entry