If you are married your spouse must be listed as the beneficiary on your account unless they sign a form waiving their right. Because the 401(k) is considered a marital asset your spouse is automatically the beneficiary, if you wish to list somebody other then your spouse as the beneficiary they must waive their right to the benefit. See similar questions...

Beneficiary Designation Form to your local Human Resources department. You may obtain a form by selecting "Forms" from the menu above. See similar questions...

If you were still employed at the time of death, your account generally becomes 100% vested and would be distributed according to your beneficiary elections. Please refer to your summary plan description (SPD) for additional information. See similar questions...

If your plan includes a loan provision, and you are still actively employed, then you may apply for a loan from your 401(k) account. The only portion of your balance that is eligible to borrow is your vested balance. In addition, the plan trustee must give their approval for the loan. Please see your plan's Summary Plan Description to determine if your plan has a loan provision. See similar questions...

You may contact Putnam Investments at 1-877-JIB-401K (1-877-542-4015) 24 hours a day, 7 days a week to obtain account balance information, to change investment funds, or to request a distribution or loan. Remember to have your PIN number available when you call. You may also obtain your account balance online at www.ibenefitcenter.mercerhrs.com. Yes, and it varies by year in accordance with IRS regulations. See similar questions...

If you elect to receive your statement electronically, you will be notified via email when it is ready, generally about five business days after quarter end. If you elect paper statement, it will be mailed 15 business days after quarter end. See similar questions...

You can only take a distribution from you 401(k) account if you are no longer considered an employee. If you are temporarily laid off and there is a reasonable expectation that you will be called back to work then you would not qualify for a distribution. If your employment is considered terminated due to lay off then you would be eligible for a distribution of your funds. Even though you are no longer working for the company, you are still participating in the company 401(k) plan. See similar questions...

The beneficiary for your optional insurance is the same as that for the basic VRS group coverage. You are the beneficiary for the optional insurance on your spouse and your children. See similar questions...

The default beneficiary for a married participant is their spouse. If there are any auto enrolled participants that are not married they will need to fill out a beneficiary form. Married participants that would like to designate someone other than their spouse as a beneficiary can also fill out a beneficiary form. They can call Freedom One Client Services at 248-620-8100 to request the form. See similar questions...

In order to view your balance, go to our home page and click on "Manage Your Account." Enter your Social Security Number (SSN) (without hyphens) and your Personal Identification Number (PIN). The default PIN Number is the last four digits of your SSN. You may change your User ID and PIN once you have already logged into your account. Send us a fax with a note explaining you need your PIN Reset. Include your full name, SSN, date of birth, phone number and signature. See similar questions...

You can designate anyone as the individual who will receive benefits from the retirement plan when you die.  However, if you are married and name someone other than your spouse, your spouse must give his or her consent by signing the Beneficiary Designation form in the presence of a notary public.  If you do not designate a beneficiary or your beneficiary dies before you do, your beneficiary will be your spouse. See similar questions...

A 401(k) plan is a defined contribution plan that is a cash or deferred arrangement. You can elect to defer receiving a portion of your salary which is instead contributed on your behalf, before taxes, to the 401(k) plan. Sometimes the employer may match your contributions. There are special rules governing the operation of a 401(k) plan. For example, there is a dollar limit on the amount you may elect to defer each year. The dollar limit is $11,000. See similar questions...

Yes. A non-spouse beneficiary can choose a direct rollover to an IRA established on behalf of the designated beneficiary that will be treated as an inherited IRA. The IRA must be established in a manner that identifies it as an IRA with respect to a deceased individual and also identifies the deceased individual and the beneficiary, for example, "Tom Smith as beneficiary of John Smith. See similar questions...

The University provides employees with fringe benefits. Generally, benefits relate to retirement, health insurance, disability insurance, and life insurance. For retirement and life insurance, an employee may designate one or more beneficiaries to receive a benefit in the event of the employee’s death. An employee can change a beneficiary designation at any time. See similar questions...

an employee, you are eligible to participate in your employer's 401(k) plan once you have attained the minimum required years of age and have completed the required number of hours of service. These requirements are determined by your employer and may be found in your plan's Summary Plan Description. See similar questions...