Beneficiary

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?It is error alone that needs the support of government. Truth can stand by itself.? ? Thomas Jefferson
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There are significant tax consequences to know
The Economic Times  Jul 17  Comment 
Idea Cellular has emerged as the biggest beneficiary of the robust subscriber growth in the country over the last two years, said the data of TRAI.
Daily FX  Jun 16  Comment 
Markets remain under intense pressure into Thursday trade and we continue to forecast additional upside for the US Dollar…
Business Times - Malaysia  Jun 6  Comment 
RHB Capital Bhd's banking unit would be the biggest beneficiary if the group is taken over by either Malayan Banking Bhd or CIMB Group Holdings Bhd, Moody's Investor Service said in a report today. That's because a takeover would improve RHB Bank...
Forbes  May 17  Comment 
Newman Trowbridge, Jr. was a customer of Capital One Investment Services, LLC, which is a broker-dealer and a member of the Financial Industry Regulatory Authority (“FINRA”). Rick E. Schenck, Sr. was a Capital One broker assigned to Newman...
Insurance Journal  May 9  Comment 
The Texas Department of Insurance says a recent industry survey shows that many life insurance companies place policy proceeds into Retained Asset Accounts (RAAs) instead of paying proceeds directly to the beneficiaries. The department is...
Metal Bulletin  Feb 27  Comment 
A $35-billion U.S. Air Force tanker project will give new impetus to what has been a lagging military aerospace sector this year for metals while possibly prolonging the life of Boeing Co.’s 767 airliner.




 
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Beneficiary - means the individual(s) or entity designated by a Participant to receive the balance of the Participant’s Deferral Account in the event of the Participant’s death prior to the payment of the Participant’s entire Deferral Account. To be effective, any beneficiary designation shall be filed in such manner as prescribed by the Committee. A Participant may revoke an existing beneficiary designation by filing another Beneficiary designation in such manner as prescribed by the Committee. The latest beneficiary designation received by the Committee shall be controlling. If no Beneficiary is named by a Participant or if he survives all of his named Beneficiaries, the Deferral Account shall be paid in the following order of precedence:

	(a)	the Participant’s spouse;

	(b)	the Participant’s children (including adopted children), per stirpes; or

	(c)	the Participant’s estate.
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