IN Sewickley Spring 2016 | Page 17

INDUSTRY INSIGHT YOUR FINANCES SPONSORED CONTENT Retirement Plans and Estate Planning When you die, what will happen to your retirement plan benefits? In general, your retirement plan benefits pass to the beneficiaries you designate on the plan beneficiary designation form. Your benefits will generally be subject to estate tax at your death and to income tax when benefits are distributed from the plan to your beneficiaries. n Who receives your retirement plan benefits after your death? You can designate who will receive your retirement plan benefits at your death by designating a beneficiary on the plan form for naming beneficiaries. (Your spouse may have certain rights in the ret \