Erisa Retirement Plan Who Can Be Beneficiary In King
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Generally, an ERISA plan participant can select just about anyone to be their beneficiary. Typically, a plan participant selects their spouse, children, or other family members.
Examples of non-ERISA health insurance plans can include: Churches or religious organizations. School systems. Government entities. Public workers. purchased on an individual basis through Covered California.
In general, ERISA does not cover plans established or maintained by governmental entities, churches for their employees, or plans which are maintained solely to comply with applicable workers compensation, unemployment or disability laws.
The Spouse Is the Automatic Beneficiary for Married People A federal law, the Employee Retirement Income Security Act (ERISA), governs most pensions and retirement accounts.
An eligible designated beneficiary (EDB) must be an individual, and not a nonperson entity such as a trust, an estate, or a charity (which would be not designated beneficiaries).
In general, ERISA does not cover plans established or maintained by governmental entities, churches for their employees, or plans which are maintained solely to comply with applicable workers compensation, unemployment or disability laws.
An eligible designated beneficiary (EDB) is always an individual. An EDB cannot be a nonperson entity such as a trust, an estate, or a charity.
