Retired Members

Beneficiary and Payment Plan Changes

SCRS and PORS Retirees
Retiree Group Life Insurance
You may change your Retiree group life insurance beneficiary at any time regardless of the payment plan you selected.

Option A
You may change your beneficiary at any time. If you have a change in marital status, you may also select a new option within one year of the change in marital status.

Option B and Option C
If all of your beneficiaries predecease you, your annuity 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, you may select a new option within one year of the change in marital status.

Change in Marital Status
If your spouse dies after you retire, if you marry, or if you divorce, you may revoke your current payment plan and select a new option within one year of the change in marital status. Estimates of adjusted benefits under a new option are available from the Retirement Systems upon request.

Number of Changes
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 occurring before January 1, 2001, are not included in the limitation provision.

GARS and JSRS Members
Contact the Retirement Systems for information about changing your beneficiary and/or payment plan.