Generally, an ERISA plan participant can select just about anyone to be their beneficiary. ERISA is a federal law that sets minimum standards for retirement plans in private industry.At the Peace Law Firm, we commit to serving employees and beneficiaries in the full range of ERISA claims. We never represent insurance companies. Essex Richards is experienced in handling breach of fiduciary duty and prohibited transaction claims under ERISA, including bringing ERISA class actions. Any change to an ERISA account beneficiary designation must receive the consent of the spouse, even if legally separated. You may change most of your beneficiaries when you separate. However, some of those changes may need to be revised as part of the divorce settlement. The most important facts they need to know about their retirement and health benefit plans including plan rules, financial information, and documents. There are instances when a fully insured plan contains subrogation language.