When you enrolled in your retirement plan, you may have identified beneficiaries — namely, a primary and even a contingent beneficiary — for the assets in your account. But have you reviewed those designations since then? If not, here’s why it’s a good idea to do so now.
The beneficiary is the person or entity entitled to receive an account after the death of the owner (or, in the case of a retirement plan account, the participant).
Primary beneficiaries are the individuals chosen to first receive proceeds from a mutual fund account or retirement plan account. Contingent, or secondary, beneficiaries receive proceeds if there are no surviving primary beneficiaries.
Depending on your account, you may be able to review and/or update your beneficiary information online. Log in to your account to see if this feature is available for your plan.
If you can’t view your beneficiary information online, contact your employer’s benefits or human resources department. They will have a copy of the form you completed when you enrolled in your plan.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
Use of this website is intended for U.S. residents only.
American Funds Distributors, Inc.
This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.