BNSF News
Who's Your Beneficiary?
2010-01-21
What's your New Year's resolution? How about making sure you have properly designated beneficiary information should something happen to you?
What is a beneficiary?
Your beneficiary is the person or persons you choose to receive any benefit payable from a benefit program or plan (as well as any remaining compensation, vacation payout, etc.) because of your death. You may change your beneficiary designation at any time.
Special note: If death occurs and a minor (a person not of legal age) or your estate is named as the "beneficiary," a legal guardian or an administrator must be appointed before any proceeds can be paid.
Why is it important to name beneficiaries?
Naming beneficiaries offers one of the simplest and most direct ways to efficiently transfer your assets to loved ones after your death. In most cases, you can be certain of how assets will be distributed only if you have taken the proper steps in advance to designate your beneficiary(ies). You must put your intentions in writing or the laws of the state may take precedence. You may want to consult with your legal and/or financial advisors about your individual circumstances.
Keep your beneficiary designations up-to-date!
To protect your beneficiary(ies), review and update all of your beneficiary designations regularly, and especially when you experience a life event, such as the birth or adoption of a child, marriage, divorce, etc. By keeping your beneficiary designations up-to-date, you protect your survivors.
Here's where beneficiary designations apply and where to review and update them.
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Scheduled Employees Beneficiary Designations |
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Compensation |
Employee.bnsf.com > Total Rewards |
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401(k) Plan |
Vanguard
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TCU 401(k) Plan |
Call T. Rowe Price at 800-922-9945 |
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Life Insurance |
Call MetLife at 800-310-7770, Option 1 |
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Salaried Employees Beneficiary Designations |
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Compensation |
Employee.bnsf.com > Total Rewards |
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401(k) Plan |
Vanguard
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TCU 401(k) Plan |
Call T. Rowe Price at 800-922-9945 |
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Life Insurance Accidental Death and Dismemberment (AD&D) Insurance Business Travel Accident (BTA) Insurance |
BNSF Benefits Center
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Aetna Health Savings Account (HSA) |
JPMorgan Chase
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BNSF Headquarters
BNSF Railway Company2650 Lou Menk Dr. 2nd Floor
P.O. Box 961057
Fort Worth, TX 76161-0057
Phone: (817) 352-1000
For more information on the company and its transportation solutions, visit the BNSF Web site at www.bnsf.com
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