The phrase "surviving beneficiary" refers to a person who receives something, like money or property, from another person who has passed away. This beneficiary must still be alive at the time when the distribution is being made. Full definition
If the beneficiaries are spouse and United Way in equal shares, United Way as the sole surviving beneficiary, gets the entire amount; if 50 % shares, half the IRA goes to your estate where it is subject to estate tax (possibly) and income tax definitely. (money.stackexchange.com)
Or, if you haven't designated a beneficiary, the benefit will be paid to your first surviving beneficiary in this order: your spouse, your children, your parents, your brothers and sisters or your estate. (rewardexpert.com)
Manage and counsel employees on benefits (i.e. Medical, Dental, and Vision, Pension, 401K, Retirement, and Surviving Beneficiary benefits). (jeffthecareercoach.com)