Generally, an ERISA plan participant can select just about anyone to be their beneficiary. It's in an ERISA account owner's best interest to have specific beneficiaries designated in retirement accounts.This will facilitate the transfer of assets. You must name a primary beneficiary and at least one contingent beneficiary (to whom assets will pass if the primary beneficiary has died). Missing Participants Program PBGC has a program called the Missing Participants Program, which connects people to their retirement benefit. For example, Federal, state, or local government plans and some church plans are not covered. Next of kin is usually defined as a person's closest living relative: it's someone who may have inheritance rights and obligations.