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Welcome to beneficiary designations  a Wisconsin Retirement System topic. By the end of this presentation you'll be able  to define beneficiary and standard sequence,   explain the importance of a beneficiary form,  identify who or what could be a beneficiary,   select the appropriate beneficiary  form, and update your beneficiary.   Let's start off with a few important definitions  that you'll need to know during this presentation. A beneficiary is someone you name to receive  any potential benefits upon your death.   That's what this whole presentation is about  - how to make sure the right beneficiaries   receive your benefits. In order to make  sure the right people receive your benefits,   you must designate a beneficiary by  completing one of ETF's designation forms.   Benefits are always paid based on the most  recent and valid beneficiary designation   received at ETF before your death. Benefits will  not automatically be paid according to your last   will and testament. If you do not complete a form,  standard sequence is applied. Standard sequence   is the order that your money will be distributed  according to Wisconsin law. Payment is made to the   first living person or people in this graphic  and move down the line until one is found.   The first person to receive your benefits would  be your surviving spouse or domestic partner.   If they die or don't exist, then your children  or grandchildren will receive equal shares   of the benefit and so forth. If there are no  survivors identified through standard sequence,   any death benefits will be paid to your estate.   If you do not want standard sequence to be  followed, you must fill out a beneficiary   designation form so that your WRS benefits will  be distributed according to your instructions. Next, we're going to look at how to designate  a beneficiary to receive your benefits.   You may name one or multiple beneficiaries. A  beneficiary does not have to be related to you.   You may name an individual  or multiple individuals,   including future children or grandchildren.  You may name an entity such as a charity,   religious organization, etc. You may  name a trust. You may name your estate.   You may not name the individual, entity,  trust, or estate more than once on the form. Because the beneficiary designation  form is a legally binding document,   there are some mistakes that we would like  to avoid. If you make any of these mistakes,   your form will be rejected and you  will have to complete a new one.   When naming beneficiaries, do not use  nicknames. Please write out the full first   and last name of each beneficiary. Avoid  strikeouts, whiteouts, and erasures.   Do not use numerals denoting order of  beneficiaries. Order is determined based on what   section they are listed in: primary or secondary.  Do not use special instructions and notations.   Avoid references to future events  or using the word "or". And do not   designate a beneficiary by letter. Only  the beneficiary form is legally binding. ETF has two different forms to choose  from to designate a beneficiary or   multiple beneficiaries....