Retain Beneficiary Designations for Separated Employees Too

Cooperatives must obtain and retain dated and physically signed beneficiary documentation for all beneficiary designations from active employees, separated employees and beneficiaries (e.g., from a qualified domestic relations order) who provide beneficiary designations.

In the event a participant enrolled in a benefit that has beneficiaries passes away, NRECA will check with the co-op for the most recent dated and signed beneficiary documentation on file. Co-ops are not required to retain original copies—digital copies of the documentation are acceptable.

As a reminder, valid beneficiary designations (with dated and physically signed documentation) for the 401(k) Pension Plan, Retirement Security Plan and life, accidental death and dismemberment and business travel accident insurance plans can be made or updated through the following:

• Employee Benefit Profile
• Designate Beneficiary confirmation page
• Confirmation page from one of the modernized life and employment events (New Hire/Rehire, Marriage, New Child, Separation)
• Annual Enrollment confirmation page
• NRECA Beneficiary Designation Form
• NRECA Employee Worksheet

For more on beneficiary designations, visit the Beneficiaries page in BA Guide. Participants can visit the Beneficiaries page for participants if they have questions about beneficiary designations.