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PARTICIPANT MEMO - January 2024

Navigating Retirement's New Horizons

As we embrace the dawn of a new year, contemplating the departure of a loved one may not be the most festive topic, yet it's an essential consideration for any forward-thinking planner. When you initially chose your retirement plan, you were likely prompted to designate a beneficiary.

Here are some tips tailored for the new year as you update your beneficiary information:

1.     New Year, Fresh Financial Check: Start the year by reviewing your retirement savings account. Unlike a New Year's resolution that may fade, this commitment ensures your financial affairs are in order. The assets in your retirement account won't follow the notes of your will; they'll dance to the beneficiaries named on the account. Keep this list current for a harmonious financial future.

2.     Spousal Consent Symphony: It's imperative to obtain your spouse's signature consent, as official as the stroke of midnight, to designate beneficiaries beyond your spouse.

3.     Life's Turning Points: Acknowledge life's significant events, from the exciting birth of a child to the contemplative aftermath of a divorce. Update your beneficiaries accordingly, with your plan advisor as your trusted guide through life's twists and turns.

4.     Keeping the Financial Score: Like a New Year's countdown, your beneficiary form requires consistent attention. Plan for your financial future with the precision of a New Year's celebration, ensuring your assets are distributed as intended.

In the spirit of new beginnings, remember that planning for retirement and staying current with your plan is crucial, even in the face of unforeseen challenges.


ACR# 6137172 12/23