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Our objective is to make life easy for all retirement plan stakeholders. We do our best to thoroughly explain the features and benefits of our smart retirement solutions. Sometimes, you may still have a question. Click on these Frequently Asked Questions (FAQs) to get the information you need to understand why smart retirement solutions are best in class. 

  • Why should I name a beneficiary?
    This allows you to control who receives the value of your retirement account should you die.
  • How many beneficiaries should I name?
    The number of beneficiaries you name, and whether you make them primary or contingent beneficiaries, is up to you.
  • What’s the difference between a primary and a contingent beneficiary?
    A primary beneficiary will inherit your IRA assets unless he/she pre-deceases you. A contingent beneficiary will inherit your IRA assets only if your primary beneficiary(ies) has died before your IRA assets have been distributed.
  • If I name multiple beneficiaries, how do I control how much each one gets? What happens if the totals don’t add up to 100%?
    You can allocate a percentage of the assets to each beneficiary. For example, if there were two primary beneficiaries, you could allocate 50% of your assets to each, or 75% to one and 25% to the other, or some other combination thereof. The same applies for contingent beneficiaries. It’s important, though, that the totals add up to 100%, so that all assets are accounted for. If the totals do not add up to 100%, your assets will be allocated evenly among the named beneficiaries.
  • What if I have multiple beneficiaries and one of them dies before I do?
    The percentage share of any remaining beneficiary(ies) will be increased on a pro-rata basis unless you complete a new Beneficiary Designation form, reallocating your assets.

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