Beneficiary Management
Making sure affairs are in order and checking in from time to time is key when it comes to protecting loved ones. Ensuring your beneficiary information is updated is one way to help your loved ones when it matters most.
Several of your Purdue benefits provide for beneficiaries in the event of your death so updated information is very important.
Designating your beneficiaries ensures that your funds are appropriately distributed per your wishes and not defaulted to your estate. Once designated, it is recommended to review your beneficiary designations each year to ensure no changes are needed.
To make it easier for you, below is a list of those places. You can update your beneficiary records for each of the benefit programs with the instructions listed below. For more information on the beneficiary update process, contact the plan vendor at the respective numbers listed below.
Getting Organized
Organizing My Affairs worksheet
- Provided by PURA, this worksheet is designed to help you capture the sometimes overlooked or forgotten details when it comes to estate planning.
- Once saved to your computer, you can fill in the blank fields, save and share copies with your loved ones.
Health Savings Account (HSA)
HSA Bank
Online: http://www.hsabank.com/hsabank/members
- Log into your HSA Bank account to begin.
- Once logged in, click the Profile link in the menu at the top of the page.
- On the right side of the next page, click the "Add Beneficiary" link across from Beneficiaries.
Paper: Designation of Beneficiary Form
Note: If you are married and designate someone other than a spouse as your primary beneficiary, you must submit a beneficiary form with the notarized consent of your spouse to HSA Bank.
Life Insurance - Accidental Death & Dismemberment (AD&D) and Term Life
Securian Life
Online: https://one.purdue.edu
- On the One Campus Portal, select “Benefits Enrollment (Faculty & Staff) – Benefitfocus;” log in with your Purdue career account. Select the “To Enroll, Make a Change, and View Your Benefits CLICK HERE” gold button located at the top right of the screen. Click the gold “Get Started” box. Review your dependent information; click “Next”.
- From the “Current Benefits” page, scroll down to the “Your Life Coverage - Basic Employee Term Life” section. Click “Add” next to “Beneficiaries.”
- On the “Life: Beneficiary information” page; click “Add Beneficiary.” Select the “Beneficiary Type,” choose from Person, Organization, Trust or Estate, then click “Next.”
- Select “Enter New beneficiary” or choose from the pre-populated list of dependents. Under “Use” choose the named beneficiary. Select the “Beneficiary Type,” “Allocation Percentage,” then “Add Beneficiary” to name additional beneficiaries, if applicable; click “Next.”
- Repeat steps 7-10 to “Add” beneficiaries for the AD&D life insurance plan. Once you’ve added your beneficiary information, you will be taken to the summary page. Verify the information is correct and click “Save” at the bottom of this page. After saving, you will be directed back to the “Welcome to the Purdue Benefits Portal” page.
- For assistance, contact Human Resources at 765-494-2222 or hr@purdue.edu.
Paper: Not available for beneficiary changes.
Retirement
Fidelity
Online: www.netbenefits.com
- Click on "Your Profile" in the green menu bar at top of page.
- Click the "Beneficiaries" link.
Paper: Call 800-343-0860 to request a form.
Fidelity also allows beneficiaries to be added or updated via text message (text CARE to 343898). The new text feature leads directly to the beneficiary page upon login to Fidelity NetBenefits.
As a reminder, Fidelity retirement planners offer free services to Purdue employees including assistance with establishing beneficiaries within Fidelity, retirement planning, savings, and more. For more details on what to expect from a retirement planner meeting, see the “Retirement Planning – How You Benefit from a Fidelity Consultation” video.
PERF (INPRS)
Updating a Defined Contribution Beneficiary
- Online: Secure INPRS/PERF online account
- Hover over name in top right hand corner
- Click "My Profile"
- In the second box, select Beneficiary Information
- Click on Add/Edit link
- Watch video for reference
- If you are already retired, please call 1-844-464-6777
Updating a Defined Benefit Beneficiary (Pension)
- Click on INPRS/PERF
- Select Change your Beneficiary-Active member-PERF Hybrid plan only
- Mail or Fax completed form(s) to either of the following:
| VIA Mail VOYA Financial Attn: Indiana Public Retirement System PO Box 389 Hartford, CT 06141 |
Via Fax VOYA Financial Attn: Indiana Public Retirement System 1-844-265-5840 |
TIAA
Retirement plans in place prior to 2011:
Online: https://www.tiaa.org/public
- Click Profile *Select Manage Beneficiaries
- Start with building the beneficiary profiles. If you have more than one account, the beneficiaries can be copied over or each account can have a different set of instructions.
- Once you submit a beneficiary change on an account, the account cannot be updated a second time until the next business day.
Lincoln Group Variable Annuity (Former Retirement Plan Administrator)
Online: Not available for beneficiary changes
Paper: Call Lincoln Group at 800-341-0441, and press the option for customer service. Request that a beneficiary change form be mailed to you.
COREBRIDGE FINANCIAL/AIG/VALIC (FORMER RETIREMENT PLAN ADMINISTRATOR)
Online: Not available for beneficiary changes
Phone: Call 800-448-2542 for assistance with beneficiary changes.
American Century (Former Retirement Plan Administrators)
Online: http://www.americancentury.com/
- Select “Individual Investors” on the right side, then click on the words “Individual Investors.”
- On the left side of the next page under “Find It Fast,” choose “Forms & Applications.” then “Designation of Beneficiary” from the list.
Phone: 800-345-3533 – Business Retirement Services will assist with beneficiary changes.
Nyhart
Police Officers and Firefighters Pension Plan:
Paper: Complete this Beneficiary Form Mail completed form to:
Nyhart
PO BOX 219240
Kansas City, MO 64121