Estate planning at Nova 401(k)

Under the Nova 401(k) Associates PPA Basic Plan Document (Section 6.2(f)), a divorce decree relating to the spouse revokes the participant's designation of that spouse as beneficiary — unless the decree or a qualified domestic relations order provides otherwise, unless the employer elected differently in the adoption agreement, or unless the participant later files a new designation naming the former spouse again. Do not rely on that default: file a fresh beneficiary designation with the plan administrator after a divorce. And if you participate in a combination plan — for instance an Instant Solo(k) paired with a cash balance plan — each plan carries its OWN beneficiary designation, and updating one does not update the other.