How Do I Change my Beneficiary Information?
By designating a beneficiary, you control who receives the benefits from your city of Phoenix 457 and 401(a) Plans if you pass away before your account is paid out. It is important to make sure that your beneficiary information is up to date and consistent with your wishes.
You can change your information by downloading the Beneficiary Designation Form (PDF).
Minor Beneficiary Designation Form
In the event that a named beneficiary is still a minor at the time of your death and you did not designate a custodian for that minor beneficiary, a guardian may need to be appointed by the court to receive payment of benefits on behalf of the minor. If you do not wish to name a custodian, you should consult an attorney to make arrangements to avoid unnecessary costs and delays in the future.
The Arizona Uniform Transfers to Minors Act (UTMA) allows the person with the right to give the assets to nominate a custodian for a minor beneficiary. The assets are then transferred to the custodian, who is responsible for protecting the minor's interests. Note: Under UTMA, a minor is defined as a person under the age of 21 years.
You can nominate a custodian for minor beneficiaries by downloading the City of Phoenix 457(b) / 401(a) Plans Beneficiary Designation Supplemental Form for Minor Beneficiary Designations (PDF).
If you have questions, please contact us.
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