In the Event of a Death

If a covered dependent dies, you can adjust your coverage levels within 31 days of the loss.

If your spouse or domestic partner dies, and you were covered under his or her plan, you’re eligible to enroll yourself and any eligible dependents in a Synopsys plan. To enroll in a new plan or adjust coverage levels, go to Benefitsolver. 

You’ll continue to receive Synopsys benefits from the date of the employee’s death through the last day of the month. You may then continue your coverage through COBRA. Synopsys will provide a six-month COBRA subsidy. 

You’ll receive an enrollment package to continue health and wellness benefits through COBRA. You may also go to Benefitsolver to initiate the continuation of your health and wellness benefits through COBRA.

Review your beneficiary designations and make changes, if applicable.

Federal law requires that you name your spouse as the sole beneficiary of your 401(k) Plan, unless you obtain their written, notarized consent. To make changes to your 401(k) Plan beneficiary designation, go to Fidelity or call (800) 835-5095.

You have four options regarding an employee’s funds in the Synopsys 401(k) Savings Plan:

1. Leave assets in the 401(k) Plan for up to five years from the date of death.
2. Roll assets into an IRA.
3. Roll assets into another qualified retirement plan (surviving spouse only).
4. Receive a lump-sum cash distribution.

You’re required to submit the following documentation if you are a:

Surviving Spouse: Submit a certified copy of your marriage license and certified copy of your spouse’s death certificate.

Non-Spouse Beneficiary: Submit a certified death certificate. Additional documentation may be required.

There may be ESPP shares or other Synopsys equity-related assets held at E*TRADE, which may be transferable to a beneficiary, trust, or estate. 

You’ll receive a letter from the Synopsys Shareholder Services team with instructions on how to work with E*TRADE. 

Losing a loved one can be emotionally devastating. You may want to consider reaching out to our EAP. Professional counselors are available 24/7 to assist you and refer you to therapists and coaches. You have access to a limited number of free counseling visits a year, per covered family member.

Visit Lyra or call (844) 856-2213.

Losing a loved one can be emotionally devastating. You may want to consider reaching out to our EAP. Professional counselors are available 24/7 to assist you and refer you to therapists and coaches. You have access to a limited number of free counseling visits a year, per covered family member.

Visit Lyra or call (844) 856-2213.