How to designate beneficiaries at JULY
Beneficiaries are managed by phone or by mail
Who inherits your JULY retirement retirement accounts is determined by the beneficiary designation on file—not by your will. This makes keeping designations current one of the most important estate planning steps, especially because the choice of beneficiary also affects how inherited distributions are taxed.
The transfer rules at JULY vary across 8 retirement accounts. Below is a breakdown of beneficiary options, trust funding, and which products support each method.
Beneficiary form at JULY
Beneficiary Designation Form (BDF061218), Enrollment & Beneficiary Designation Form and Enrollment & Beneficiary Designation Form (Roth version).
Open the form →Required Documents
- Beneficiary Designation Form (BDF061218). Signed in Section 6 and returned to the designated employer representative
- Each beneficiary's details. Full name, date of birth, relationship, Social Security number and percentage share
- Spousal Consent to Beneficiary Designation (when the participant is married and any beneficiary other than the spouse is named, including a trust or a split with the spouse). Signed by the spouse in Section 7 and notarized in Section 8
- The trust's name, date and taxpayer identification number (when a trust is named as beneficiary). The exact legal name and date go in the Name column; the taxpayer identification number goes in the Social Security number column
- Certificate of Trust or trust agreement (when a trust is named as beneficiary). Identifies the trust name, date and trustee. Either the full trust agreement or a Certificate of Trust is taken
What JULY says about beneficiaries
Each section is JULY's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary1
- Employer retirement plan
A 401k, Solo 401(k), Safe Harbor 401k, Profit Sharing, 403b, Cash Balance or Defined Benefit account is a plan asset held in the plan's trust. It cannot be retitled into a revocable trust, and there is no transfer-on-death registration.1
Naming the trust as beneficiary is the only way to connect a trust to a plan account.1
Who can be named1
- A trust
A trust can be named as beneficiary on the Beneficiary Designation Form, using the trust's exact legal name and date.2
How many beneficiaries, and how shares are split
- All accounts
Primary shares total 100%. Contingent shares total 100% and are reached only if none of the primary beneficiaries survives the participant.2
What a designation takes to be effective
- All accounts
The Explanation of Death Benefits states that a married participant's surviving spouse "is entitled to 100% of the participant's vested benefits under the Plan," and that no alternate beneficiary can be named without a notarized spousal consent.1
The Beneficiary Designation Form requires the spousal consent to be notarized (Section 8). A spouse cannot revoke the consent once signed and dated unless the participant completes a new Beneficiary Designation Form.2
Beneficiary forms JULY issues3
- Beneficiary Designation Form (BDF061218)
Available to download.2
- Enrollment & Beneficiary Designation Form
Available to download.3
- Enrollment & Beneficiary Designation Form (Roth version)
Available to download.3
What JULY's agreement says about beneficiaries4
- A designation and a will
"Outside documents, such as a last will and testament, do not control the payment of death benefits under the Plan."1
- A beneficiary who dies first
If a beneficiary predeceases the participant, "that individual's share shall be disregarded and shared among all other beneficiaries in that individual's class," unless the form says otherwise.1
- Divorce
A spouse designation is "automatically rescinded" on divorce or legal separation unless a divorce decree or qualified domestic relations order provides otherwise.1
- Changing or revoking a designation
The form states that the designation "revokes any prior beneficiary designation and will control over any other beneficiary designation made outside of the Plan."2
A participant who checks "I am NOT married" agrees that the designation "becomes null and void to the extent my spouse is not the designated beneficiary" on a later marriage, and agrees to inform the Plan Administrator of the change in marital status.2
Sources
Data sourced from JULY primary sources (15 pages reviewed). How we research.
Download these JULY instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against JULY primary sources. Bring it to the branch or keep it beside the phone.
JULY estate support
JULY Participant Questions
Phone
Participant help line / technical support
Existing plan sponsor / advisor questions
Mailing address
Website
Estate requests go through general customer service.
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