If You Die
If you die, your Plan balance is payable to your beneficiary. If you are married at the time of death and did not designate a different beneficiary with the notarized consent of your spouse, your spouse is automatically your beneficiary. If you are single and did not designate a beneficiary, your estate is your beneficiary. Once the Plan is notified, your spouse or beneficiary will receive his or her options for disposition of the account. Your spouse or beneficiary may elect either to take a lump-sum distribution or to roll the Plan balance over directly into an inherited IRA.
If you're in a domestic partnership registered with the California Secretary of State, the plan administrator will recognize your domestic partner as your spouse to the extent the plan administrator concludes it's appropriate to do so under applicable IRS and Department of Labor guidance.
Payment to your beneficiary will occur within 60 days of the Plan Administrator's receipt of your beneficiary's payment instructions. If your beneficiary does not provide payment instructions for disposition of the account within 180 days following the Plan Administrator's receipt of notification of your death, the Plan Administrator will automatically withhold 20% from the taxable portion of the distribution for federal taxes and distribute the remainder to your beneficiary in a lump sum (see "Taxes and Penalties").
You may change your beneficiary designation at any time by logging onto NetBenefits℠ at www.401k.com or by calling Fidelity's RSP Service Center at 877-PGE-401K (877-743-4015).