Have you designated your beneficiaries?
It’s a subject no one likes to talk about, but it’s important to know what would happen to your retirement savings if something happened to you. Unfortunately, many employees have not named a beneficiary for the Asante 403(b) retirement plan.
To make sure that you get to decide what happens with your funds, designate or update your retirement plan beneficiaries today. You can text the word “CARE” to 343-898 to add or update your beneficiary information, or go to the Fidelity beneficiary page.
If you need to update or make life insurance beneficiary designations as well, visit “My Life Events” on myHR. Marking a contact as a beneficiary in myHR does not actually designate them; you have to complete the Life Event to complete the designation. When you designate beneficiaries, it will serve for both the basic coverage and any supplemental coverage.
You can name multiple beneficiaries as primary or contingent beneficiaries. Contingent means if any primary beneficiaries do not survive you, contingent beneficiaries will receive any life insurance payout. For life insurance for your spouse and dependent children, the Asante employee is automatically the beneficiary.
If you have questions, email Asante Benefits or call (541) 789-4551. You can also submit a case in the Ask HR section of myHR.
If you have a question, please contact the author or relevant department directly.