Allowing Access to Your Account

You’ve worked hard to save and accumulate your retirement account balances. Prepare now to make sure those close to you have access to your account when they need it.

Beneficiaries

It’s important that you designate beneficiaries and keep them up to date to ensure that upon your death any remaining defined contribution plan account balances and welfare plan benefits are left to the persons or entities you choose. Remember to review and update your beneficiaries often, especially at life event changes like marriage, divorce, birth of a child or death of a beneficiary.

It’s easy to designate and update beneficiaries online at benefitsaccess.org. Log in and select the Retirement tab at the top of the page, then click on Profile > Beneficiaries Summary to view current beneficiary designations or Manage Beneficiaries to make changes.

Information about your account is only made available to beneficiaries upon your death. If you would like your spouse or another trusted person to be able to discuss information about your account with Wespath while you are living, you will need to submit a Participant Information Release form.

For a copy of this form, please contact Wespath at 1-800-851-2201 on business days from 8:00 a.m. to 6:00 p.m., Central time.

Power of Attorney (POA)

Submit a POA to Wespath to allow a named “agent” to act on your behalf regarding your retirement and/or welfare plans while you are living. Upon Wespath’s review and acceptance of the POA as valid, your agent will be allowed to perform any legal act that you have appointed him or her to do in the document. The document must be drafted in accordance with state law of the state in which the POA was signed (i.e., signatures, witnesses, notary seal, etc.).

Contact EY Financial Planning Services or an attorney or trusted advisor to help you determine if you should have a POA and how to establish one.