401k Calculator & Guide
A beneficiary designation helps determine who receives your 401(k) benefits after your death. Learn how beneficiary designations work, spouse rules, life-event updates and inherited 401(k) distribution basics.
A 401(k) beneficiary is the person or entity designated to receive retirement-plan benefits after the account owner's death. The plan establishes the procedures for making and changing beneficiary designations.
Your 401(k) plan generally follows its beneficiary procedures when determining who receives the account after your death.
Marriage, divorce, children and other major life changes can be reasons to review your beneficiary information.
The people or entities you can designate depend on the terms and procedures of your retirement plan.
A spouse commonly has special rights under retirement-plan rules, including rules governing changes to beneficiary designations.
A participant may be able to designate children or other eligible individuals according to the plan's procedures.
A beneficiary can generally be an individual selected under the plan's beneficiary designation process.
Some plans may permit a trust or another entity to be named. Plan rules and legal considerations can affect the result.
Plan forms may allow multiple beneficiaries and specify how benefits are divided among them.
Always check your plan documents and beneficiary form because the plan document determines available procedures and options.
The process is usually straightforward, but the beneficiary form must be completed according to your plan's requirements.
Find your plan's beneficiary rules and current designation.
Select the people or entities permitted by the plan.
Follow the administrator's instructions and required signatures.
Revisit your designation after important life changes.
Married participants can face special beneficiary requirements. The exact rule depends on the type of plan and its provisions.
Many retirement plans require a married participant's spouse to be the primary beneficiary unless the spouse provides the required consent to another designation.
Review your beneficiary designation when you get married.
Some plans require written spousal consent to name someone other than your spouse.
Follow the plan administrator's specific procedure for changing beneficiary information.
Do not assume an old beneficiary form automatically reflects your current family situation.
The beneficiary may have distribution options, but the applicable rules depend on factors such as the beneficiary's relationship to the account owner, the date of death and whether the beneficiary qualifies for an exception under the applicable rules.
A surviving spouse may have more distribution options than a non-spouse beneficiary. Depending on the circumstances, the spouse may be able to roll the account into their own IRA or keep it as an inherited account.
For deaths occurring after 2019, the SECURE Act changed many beneficiary distribution rules. Eligible designated beneficiaries can receive different treatment from other designated beneficiaries.
Many designated beneficiaries of retirement accounts inherited after 2019 are subject to a rule requiring the account to be emptied by the end of the 10th year following the owner's death. Exceptions can apply.
A designated beneficiary who is not an eligible designated beneficiary may generally be subject to the 10-year rule.
Eligible designated beneficiaries can include a surviving spouse, certain minor children, disabled or chronically ill individuals and certain beneficiaries who are not more than 10 years younger than the participant.
Beneficiary information can become outdated as your family and circumstances change.
Review your designation and understand any spousal consent rules.
Consider whether your beneficiary designations still reflect your family situation.
Review beneficiary records and understand how your plan and legal documents interact.
Update your designation if a named beneficiary dies before you.
Use this checklist as a starting point when reviewing your retirement account beneficiary information.
Build your understanding of beneficiaries, withdrawals, rollovers and retirement planning.
Common questions about beneficiary designations and inherited retirement accounts.
A beneficiary is the person or entity designated to receive benefits from a retirement account after the account owner's death, according to the plan's rules and beneficiary procedures.
Many plans require a married participant's spouse to be the primary beneficiary unless the spouse provides the required consent to another beneficiary. The exact requirements depend on the plan.
In many plans, this is possible with the required spousal consent. Check your plan's beneficiary procedures before making a change.
The designated beneficiary generally becomes entitled to the benefits according to the plan's rules. Distribution and tax rules can depend on whether the beneficiary is a spouse, another eligible designated beneficiary or another type of beneficiary.
For many designated beneficiaries of participants who died after 2019, the inherited account generally must be distributed by the end of the 10th year following the year of death. Certain eligible designated beneficiaries can receive different treatment.
Review it after major life events such as marriage, divorce, the birth or adoption of a child, or the death of a named beneficiary. A periodic review can also help keep the designation current.
Understanding beneficiaries is one part of building a complete retirement plan. Explore more 401(k) guides and calculators on 401k.blog.
Explore 401(k) Calculators →Clear guides, useful calculators and practical retirement resources to help you understand your 401(k), contributions, employer matching, Roth options, rollovers and long-term savings.
© Copyright 2026. All Rights Reserved.