Laserfiche WebLink
SECTION VIII <br />BENEFICIARY <br />8.1 Beneficiary Designation <br />A Participant has the right, by written notice filed with the Administrator, to designate one or <br />more Beneficiaries to receive any benefits payable under the Plan in the event of the <br />Participant's death prior to the complete distribution of benefits. The Participant accepts and <br />acknowledges that he or she has the burden for executing and filing, with the Administrator, a <br />proper Beneficiary designation form. <br />The form for this purpose shall be provided by the Administrator. The form is not valid until it is <br />signed, filed with the Administrator by the Participant, and accepted by the Administrator. Upon <br />the Participant filing the form and acceptance by the Administrator, the form revokes all <br />Beneficiary designations filed prior to that date by the Participant. If a married Participant <br />designates his or her spouse a Beneficiary under the Plan, such designation shall automatically <br />become null and void as of the date of any final divorce or similar decree or order; except that <br />the Participant may re -designate such former spouse or his or her Beneficiary after the date of the <br />final decree or order. <br />If no such designation is in effect upon the Participant's death, or if no designated Beneficiary <br />survives the Participant, the Beneficiary shall be the Participant's surviving spouse, or if the <br />Participant has no surviving spouse, the Participant's surviving children in equal shares, or if <br />there are no surviving children, the Participant's estate. If a Beneficiary dies after becoming <br />entitled to receive a distribution under the Plan but before distribution is made to him or her in <br />full, the estate of the deceased Beneficiary shall be the Beneficiary as to the balance of the <br />distribution. <br />30 <br />Specimen 457(b) Plan Document <br />Deferred Compensation Plan <br />