Did You Know ERISA requires spouses are primary beneficiaries?

Jul 13, 2018

That’s right…spouses are required to be the sole primary beneficiaries unless they give their written consent. This stems from the time ERISA law was enacted in 1974. At the time, most pension benefits went to long-term employees in the manufacturing industry–men. Part of the women’s rights movement at the time was to prevent married men from leaving their pension benefit to someone other than their wives. Times have changed, but this spousal consent requirement is ...