Q: Have you updated your beneficiary designation ?
A: If you're divorced, it's a good idea to confirm whether you want your ex-spouse to receive your WRS assets upon your death. Take the time to update your beneficiary designation and ensure your benefit is paid the way you want.
A beneficiary is a person(s) or entity you name to receive benefits upon your death. By law, ETF will always pay your WRS death benefits according to the most recent and valid beneficiary designation we have on file, before your death. Benefits will not be paid according to your will.
It is easy to forget about beneficiary designations when life events such as divorce, marriage , birth of children, etc., take place in your life. These events, however, do not change your WRS account beneficiary designations – you do. Make sure ETF knows who you want to receive your WRS assets upon your death by keeping your beneficiary designation up to date. Here are three easy ways to do so:
- Find this information on your most recent WRS annual Statement of Benefits and verify it is correct.
- Call ETF and ask.
- File a new Beneficiary Designation (ET-2320) form or Beneficiary Designation – Alternate (ET-2321) form with ETF.
If you need help completing a new beneficiary designation form, visit our webpage for complete instructions, guidelines, and frequently asked questions.