Know the rules for post-retirement beneficiary changes

It depends.

Being able to change beneficiaries depends on the type of benefit payment you selected at retirement and whether you are eligible for a Post-Retirement Paragraph 2 Death Benefit. To check what beneficiaries you have on file, visit your MyNYSTRS account (https://secure.nystrs.org/MyNYSTRS/) or review your Retired Member Profile.

If you selected the maximum retirement payment, you were not eligible to name a beneficiary for your pension at retirement. Your pension benefits will cease upon your death. However, you may be eligible to name a beneficiary for a Post-Retirement Paragraph 2 Death Benefit.

If you elected a lump sum option, you can change your beneficiary by using the Beneficiaries tab under My Retirement in your secure MyNYSTRS account or by filing a Designation of Beneficiary for Retirees Electing a Lump Sum Option form, RMS-5.

If you elected a guarantee option and the guaranteed period is still in effect, change your beneficiary by using the Beneficiaries tab under My Retirement in your secure MyNYSTRS account or by filing a Designation of Beneficiary for Retirees Electing a Guarantee Option form, RMS-5.3.

If you elected a survivor or pop-up survivor option, your coverage provides a lifetime payment to one beneficiary only, and your payments were determined in part by the age and gender of your beneficiary. As a result, you cannot change your beneficiary designation if it is more than 30 days after your retirement date. If you are within 30 days after your retirement date, you may change your beneficiary by filing an Election of Retirement Benefit form, RET-54.6. The form must be received by NYSTRS within 30 days after your retirement date.

You should report the death of a beneficiary to the state Teachers’ Retirement System by calling 800-348-7298, ext. 6140.

For more information on post-retirement death benefits and beneficiaries, visit nystrs.org/retirees/death-benefit. The publication, When a Member Falls Ill or Passes Away (https://nysut.cc/informational) is also helpful.