Always Collect Signed and Dated Documentation for All Beneficiary Designations

Beneficiary payments for the NRECA-sponsored 401(k) Pension Plan and Retirement Security Plan as well as NRECA-sponsored life, accidental death and dismemberment and business travel accident insurance plans are distributed according to the most recently dated and signed beneficiary documentation.

For all beneficiary designations, cooperatives need to retain signed and dated documentation whether beneficiaries are designated on a beneficiary designation form, such as the NRECA Beneficiary Designation form, or online through the Employee Benefits website.

There are several ways to update beneficiaries and obtain beneficiary documentation for participants to sign and date through the Employee Benefits website.

Benefits administrators can print and have employees sign and date one of the following:

• An employee’s benefit profile, which includes beneficiaries as recorded in NRECA’s systems, individually or in a batch for all participants through the Employee Benefit Profile feature,
• The Designate Beneficiary event confirmation page, or
• the confirmation page of one of the modernized life and employment events when beneficiaries are updated such as New Hire/Rehire, Marriage, New Child, Annual Enrollment or Separation.

Participants can print, sign and date one of the following to provide to you:

• Their benefit profile by going to Profile > My Benefit Profile
• The confirmation page at the end of the online Annual Enrollment event. Participants can also update their beneficiaries during annual enrollment using this event.

The NRECA Beneficiary Designation form can also be filled out, signed and dated, and returned to NRECA.

Note: Written changes on any of the above approved forms of beneficiary designation documentation are not acceptable. New documentation must be generated—either by form or online submission—and signed and dated for any beneficiary updates.

Co-ops are not required to retain original copies of signed and dated beneficiary designation documentation—digital copies are acceptable.

Stay tuned for more beneficiary education and resources
NRECA is currently reviewing and updating our beneficiary materials. Enhanced and expanded beneficiary educational materials and resources will be available by late spring. If you have questions about beneficiary designations, contact the Member Contact Center at 866.673.2299 or contactcenter@nreca.coop.