How to name beneficiaries and fund a trust at Milliman
Covers 11 retirement accounts — beneficiaries can be managed online
Benefits Service Center
Phone1-866-767-1212
Mailing Address
Milliman, 1301 Fifth Avenue, Suite 3800, Seattle, WA 98101-2646
WebsiteLearn more→
Benefits Service Center
Phone1-866-767-1212
Mailing Address
Milliman, 1301 Fifth Avenue, Suite 3800, Seattle, WA 98101-2646
WebsiteLearn more→
Verified May 2026
Estate planning for Milliman retirement retirement accounts revolves around beneficiary designations. These designations—not a will—control who receives the account balance at death. For IRAs and employer-sponsored plans, the beneficiary designation also determines the tax treatment of inherited distributions, making it a decision with both legal and financial implications.
Milliman has 11 product types, and the estate transfer rules differ across them. Some support beneficiary designations on tax-advantaged accounts, some can be retitled into a trust, and others will require probate if nothing is set up. Each is covered below.
401(k) Plan403(b) Plan401(a) Plan457(b) PlanProfit Sharing PlanMoney Purchase Pension PlanEmployee Stock Ownership Plan (ESOP)Defined Benefit (Pension) PlanCash Balance PlanNonqualified Deferred Compensation Plan457(f) Plan
1
Log in to millimanbenefits.com with your participant credentials
2
Locate the beneficiary designation tile on your account dashboard
3
Select the plan for which you want to update beneficiaries
4
Enter beneficiary details:
- Add primary and contingent beneficiaries with names, relationships, and percentage allocations
- For trust beneficiaries, enter trust name, date established, and EIN
5
Review and submit the designation electronically
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Trusts can be named as beneficiaries on all plan types
- Trust must meet IRS see-through requirements for full distribution options
- Spousal consent required for ERISA-covered plans when naming a non-spouse beneficiary
- Spouse entitled to at least 50% of death benefits under ERISA plans unless waived
- Beneficiary designations override wills and other estate documents
- Process may vary by employer plan; check plan-specific documents
Benefits Service Center
Phone1-866-767-1212
Mailing Address
Milliman, 1301 Fifth Avenue, Suite 3800, Seattle, WA 98101-2646
WebsiteLearn more→
Benefits Service Center
Phone1-866-767-1212
Mailing Address
Milliman, 1301 Fifth Avenue, Suite 3800, Seattle, WA 98101-2646
WebsiteLearn more→
Verified May 2026
Estate planning articles
Learn how to protect your Milliman accounts and other assets with trusts, beneficiary designations, and estate planning documents.
