Beneficiary Review

Question 1

What is a primary Beneficiary ?

Answer 1

The receiver of benefits in the even of the PPT death

Question 2

What is a Contingent Beneficiary

Answer 2

Receiver of benefits if all primary beneficiaries have dies before the PPT

Question 3

What Script would you read for a beneficiary update?

Answer 3

” the beneficiary designation form that i a m mailing you must be signed and returned to [PA, TRS] to finalize your beneficiary designation. if you fail to return the form , your beneficiary will default to your previously designated beneficiary. if there is none on file, your beneficiary will be determined in accordance with your plans/ programs beneficiary default rules”

Question 4

Where would you go to find what level of outsourcing a plan uses for beneficiaries?

Answer 4

P3/CTI> PPT account> Beneficiary information

Question 5

How would this PPT udate their beneficiary information?

Answer 5

P3/CTI> PPT account> Beneficiary information ( and Beneficiary chart)

Question 6

What % must the spouse be for primary Beneficiary?

Answer 6

100%