Generally, a plan may require an employee to be at least. There have been a number of amendments to ERISA, expanding the protections available to health benefit plan participants and beneficiaries.â—‹ The spouse must be the beneficiary of the participant's full benefit unless the spouse has consented to the alternative beneficiary. Learn the rules for beneficiaries inheriting 403(b) retirement plans including rollover options, cash-out distributions, and plan maintenance options. If the spouse has NOT waived her rights under this plan, then she is the beneficiary REGARDLESS of what a beneficiary designation says. We've put together a guide to help you understand more about retirement income and protection planning.