As a retiree, there are very limited instances where you can change your beneficiary. Should your beneficiary predecease you, you can make new beneficiary designations according to the provisions of the retirement plan under which you retired.
If you retired under:
- Plan A or Plan B-Option 1, you may select another beneficiary as long as there are funds in your account remaining to be refunded.
- Plan B Option 2, 2 Pop-up, Option 3, 3 Pop-up or 4 and your beneficiary(ies) predeceases you, you may change your plan of retirement and you may designate a different beneficiary(ies). If you wish to change your plan of retirement, you must choose another survivorship option, unless you choose a pop-up option, in which case you could choose Plan A. Changing your plan of retirement and/or beneficiary(ies) will result in the recalculation of your benefit. If you elected multiple beneficiaries and one of your beneficiaries predeceases you, you do not have the option to change your beneficiary designation or plan
Please contact our office for additional information, and to request the forms you will need. TRS recommends that you obtain a benefit estimate from our office prior to choosing a new plan of retirement and/or naming a new beneficiary(ies).