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Ninth Circuit Decision Illustrates Importance of Clearly Designating Beneficiaries Under a Nonqualified Plan
Porter Wright Morris & Arthur LLPLink to more items from this source
Mar. 24, 2015

"[T]his decision provides two takeaway items for plan sponsors. One is to make sure that the plan document and communications with the participants clearly explain how participants may designate beneficiaries. The other is that plan sponsors should consider periodically sending reminders to participants to make sure that their beneficiary designation forms are up-to-date." [E & J Gallo Winery v. Rogers, No. 13-55327 (9th Cir. Feb. 23, 2015; unpublished)]

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