Reviewing your beneficiary designations is a critical part of the overall planning process. This ensures your life insurance and/or remaining retirement plan proceeds are given to the people or organizations you intended after your death. It only takes a few minutes to make sure your designations match your current wishes.
It's also important to invite your named beneficiaries to a future review of your plans. Your Modern Woodmen representative can help you explain their options and your intentions, so they are more prepared after your death.
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A 401(k) plan is an employer-sponsored retirement plan that offers several income tax benefits for those looking to save for retirement.401(k) plans