How to name beneficiaries and fund a trust at BPAS
Covers 17 retirement accounts — beneficiaries can be managed online
Participant Service Center
126 Business Park Drive, Building 2, Utica, NY 13502
Participant Service Center
126 Business Park Drive, Building 2, Utica, NY 13502
Beneficiary Claims (via Plan Sponsor or Participant Service Center)
126 Business Park Drive, Building 2, Utica, NY 13502
Beneficiary designations on BPAS retirement retirement accounts carry more weight than most people realize. They override a will, control who receives the balance, and determine the tax treatment of inherited distributions. Reviewing these designations after any major life change is essential.
With 17 product types, BPAS offers a range of transfer options. Some retirement accounts support beneficiary designations on tax-advantaged accounts, others can be retitled into a trust, and some require probate if no beneficiary is designated. The sections below break down each step.
- Name, relationship, date of birth, Social Security Number, and percentage allocation
- For trust beneficiaries: enter trust name, date established, trustee name, and EIN
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Trusts can be named as beneficiaries when IRS see-through trust requirements are met
- Spousal consent may be required for ERISA-covered qualified plans (401(k), defined benefit)
- Under ERISA, spouse is entitled to at least 50% of death benefits unless waived in writing
- Beneficiary designations override wills and other estate planning documents
- Process and available channels vary by plan type and plan sponsor configuration
Sources
Data sourced from BPAS primary sources (13 pages reviewed). How we research.
Download these BPAS instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against BPAS primary sources. Bring it to the branch or keep it beside the phone.
Participant Service Center
126 Business Park Drive, Building 2, Utica, NY 13502
Participant Service Center
126 Business Park Drive, Building 2, Utica, NY 13502
Beneficiary Claims (via Plan Sponsor or Participant Service Center)
126 Business Park Drive, Building 2, Utica, NY 13502
Estate planning articles
Learn how to protect your BPAS accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
New Baby or Adoption
Your family is growing. Your protection should too. Guardian nominations, trusts for minors, beneficiary updates, and the documents new parents need in place.
Learn more
Marriage
What married couples need in place: one joint trust or two, wills, beneficiary updates, and the spousal rights your state grants you automatically.
Learn more
New Home
How to put your house in a revocable trust: the deed you record, what it does to your mortgage and property taxes, and when a TOD deed is simpler.
Learn more
Retirement
Retirement changes your financial picture. Healthcare directives, beneficiary reviews, long-term care planning, and protecting what you've built.
Learn moreMore estate planning resources
Explore related tools and documents to complete your estate plan.
How Much Does Probate Cost?
Estimate attorney fees, executor fees, court costs, and timeline for probating an estate in your state. See if the estate qualifies for simplified probate procedures.
Who Inherits Without a Will?
Find out who inherits your estate and how much they get if you die without a will. Based on your state's intestate succession laws.
How Much Are Estate & Inheritance Taxes?
Calculate federal estate tax, state estate tax (12 states + DC), and inheritance tax (5 states) for an estate or trust.
What Does Estate Planning Actually Cost?
See the true cost of estate planning. Compare SimplyTrust, Trust & Will, LegalZoom, and attorneys including life events like marriage, divorce, and having children.
How Much Does a Revocable Living Trust Cost?
Compare the cost of creating a revocable living trust. See how SimplyTrust, Trust & Will, LegalZoom, and attorneys compare over 5 years including life events.
How Much Does a Will Cost?
Compare the cost of creating a will. See document costs plus probate fees your heirs will pay. Compare SimplyTrust, Trust & Will, LegalZoom, and attorneys.
