Our ERISA attorneys at the Peace Law Firm describe some issues involving ERISA plans and beneficiaries. Contact us for help today.The most important facts they need to know about their retirement and health benefit plans including plan rules, financial information, and documents. Beneficiary designations in life insurance plans determine who receives plan benefits following the death of a plan participant. You can designate any person or legal entity (such as a living trust) as a beneficiary and you may change your beneficiary at any time. Confusion over who to name as a beneficiary and how to change beneficiary designation can lead to disputes later on. The Summary Plan Description (SPD) should include your plan's claims procedures. Usually, you fill out the required paperwork and submit it to the plan. Missing Participants Program PBGC has a program called the Missing Participants Program, which connects people to their retirement benefit. Plan, have a duty to do so prudently and in the interest of you and other plan participants and beneficiaries.