Oppenheimerfunds single k plandesignation of beneficiary forms 2025

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A beneficiary is generally any person or entity the account owner chooses to receive the benefits of a retirement account or an IRA after they die. The owner must designate the beneficiary under procedures established by the plan.
Put simply, a pension beneficiary is someone who will receive your remaining pension fund when you die. This can be a person such as a partner or family member but can also include organisations such as a registered charity.
In many cases, if a beneficiary is not specified, the proceeds will go into your estate and become subject to probate prior to distribution, a much longer, more complicated process than when you have specified an individual as beneficiary.
Call toll free 1-888-767-6738 (202-606-0500 in the DC Area), or. Send an email to retire@opm.gov, giving the number of the form that you need and your mailing address, or. Request a copy from a local Federal agency Human Relations Office.
Any of the following individuals are considered an eligible designated beneficiary (EDB): a surviving spouse, a disabled or chronically ill individual, an individual who is not more than 10 years younger than the IRA owner, or a child of the IRA owner who has not reached the age of majority.
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People also ask

Can anyone be named as a beneficiary? Your beneficiary can be a person, a charity, a trust, or your estate. Almost any person can be named as a beneficiary, although your state of residence or the provider of your benefits may restrict who you can name as a beneficiary.

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