I have a Vanguard solo 401(k) transitioning to Ascensus, and noticed this item in the transition FAQs. Just thought I'd pass it along for anyone who may have missed it.
(Editing to add: I considered whether to post this to the Ascensus mega-thread, but made a new post because of its potential importance (property could go to the wrong person). But I will certainly understand if the moderators think it best to merge this in.)Will I need to redesignate my beneficiary(ies) after the transition to Ascensus?
All participants need to designate beneficiaries on their account because all prior designations will not be transitioned to Ascensus. Participants will receive a communication from Ascensus reminding them to register for account access on the employee website and update this information. If needed, Vanguard will provide Ascensus with any beneficiary information on file until September 30, 2024. After that date, if beneficiary designation(s) have not been made on the Ascensus employee website, the election will automatically default to "Estate".
Statistics: Posted by Eric — Sat Jul 20, 2024 10:10 pm — Replies 0 — Views 138