Many employees file a designation of beneficiary form and never think about it again.
However, life circumstances may change, and the designation may no longer reflect the employee's intentions. You should review your designation of beneficiary forms periodically to ensure they reflect your current intentions and information. A will has no effect on payment of Federal benefits. If none of the above, to the child or children , with the share of any deceased child distributed among the descendants of that child. If none of the above, to the parents in equal shares or the entire amount to the surviving parent.