Beneficiary designations are one of the most important and most overlooked parts of retirement planning.

For employees, they determine who receives retirement assets. For HR teams and plan sponsors, they help ensure a smoother experience for participants and their families.

Because these decisions are often made once during enrollment and never revisited, outdated or incomplete information can surface during moments when clarity matters most. The good news is that many common beneficiary mistakes are easy to prevent.

Here are the most common issues we see and how to avoid them.

Who’s legally responsible when your 401(k) plan gets hit with a lawsuit—your company, or your advisor?
And is your advisor someone who takes accountability, or someone who simply makes suggestions and walks away?