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Comment: added church/charity beneficiary information

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Tip
titleDesignating a Minor as Beneficiary
 If a Reliant employee designates a minor to be their beneficiary, there may be legal complications for the minor to have access to the 403(b)(9) funds prior to the time they reach the age of 18.  Therefore, in the case of minors, Reliant employees may prefer to set-up a trust in the name of the child and designate the trust as their 403(b)(9) beneficiary. Please seek counsel from a legal advisor to make these arrangements. 
Note
titleChoosing a Charity or Church Organization as a Beneficiary

In the event that you cannot or choose not to designate a personal beneficiary, you can choose a charity or church organization as a beneficiary. 

To select a charity or church organization as your beneficiary, you will need the following information:

  • Full Name and Address: Organization's Name and Street Address
  • Percentage: The amount designated to go to organization (if there are multiple beneficiaries, all boxes in this column must be a sum total of 100%)
  • Date of Birth: (any date will do)
  • Relationship: Church/Charity
  • Social Security Number: Organization's Tax ID Number



Note
titleWhat happens in the case of death?
In the unfortunate case that a Reliant employee or former employee that participated in Reliant's 403(b)(9)Plan (and didn't move their money to a new plan after they exited employment) passes away, Reliant will serve as a point of contact between Principal Financial Group and the deceased's family.  Reliant will be responsible to submit the proper Death Notification Form to Principal for the 403(b)(9) payout to the designated beneficiaries.  To complete this responsibility, Reliant will request a certified copy of the death certificate from the deceased's family. 

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