Beneficiary and Payment Option Changes
SCRS and PORS Retirees
Retired Member Incidental Death Benefit
You may change your beneficiary for the incidental death benefit at any time regardless of the payment option you selected.
Option A
You may change your beneficiary for retirement benefits at any time. If you have a change in marital status (death of spouse, marriage, divorce), you may also select a new payment option and designate a new beneficiary within one year of the qualifying event.
Option B and Option C
If all of your beneficiaries predecease you, your benefit will revert to Option A effective on the date the last beneficiary died. You must notify the Retirement Systems upon the death of a beneficiary. You may then select a new beneficiary under Option A. If you have a change in marital status (death of spouse, marriage, divorce), you may select a new payment option and designate a new beneficiary within one year of the qualifying event.
Payment Option Change Limitation
Your form of monthly payment may not be changed more than twice, regardless of the number of events (death of a designated beneficiary or change in marital status) that occur. A reversion to Option A upon the death of your beneficiary will count as one of the two changes. If a second beneficiary predeceases you after you have again selected Option B or Option C, you will revert automatically to Option A; however, no further form of payment changes will be allowed. Changes in form of payment ocurring before January 1, 2001, are not included in the limitation provision.
GARS Members
Death of a Spousal Beneficiary Under a Joint Survivor Payment Plan
If a retired GARS member designated his spouse as a retirement beneficiary under one of the joint survivor payment options and his spousal beneficiary predeceases him, the retiree may within one year of the spousal beneficiary’s death select a new GARS retirement payment option and beneficiary.
Marital Status Change
If a GARS retiree’s marital status changes due to divorce or marriage, the retiree may select a new retirement benefit payment option and beneficiary. A retiree who has a change in marital status may select a new payment option and beneficiary even if the retiree did not originally select a spouse as beneficiary or did not elect a joint survivor payment option. There is no time limit for new retirement elections due to a change in marital status.
Changes in post retirement payment options may reduce your monthly benefit amount. Estimates for post retirement payment option changes may be received by contacting the Retirement Systems.
JSRS Members
Retiree Incidental Death Benefit
9-8-110(6)
You may change your retiree incidental death beneficiary at any time regardless of the payment plan you selected.