Online Beneficiary Enhancements
Delivering a more personalized and guided experience
Did you know over 13 million participants1 have not selected a beneficiary for their 401(k) account? In the event a participant passes away, having a beneficiary can help the participant's loved ones avoid the probate process for settling wills which can be lengthy and expensive.
It's now easier for participants to select their beneficiary in NetBenefits with a new guided experience with simple steps and a refreshed layout.
Enhancements include:
• Guided three-step process walks participants through each step
• Automatically pulls in data to help eliminate manual entry and risk of errors
• Saves the information so you can pick up where you left off
• Easy to update a person or account
The new beneficiary experience will be available in phases beginning with participants who only have a DC plan and haven’t yet designated a beneficiary.
