Are Your Beneficiary Designations Up To Date??

Q: If you died tomorrow...who would get the $50,000 in life insurance that the City would pay out for full time employees??

Q: If you died tomorrow...who would receive pay-outs from your pension?

Q: If you died tomorrow...who would receive your 401K or 457 funds??

DO YOU HAVE YOUR BENEFICIARY DESIGNATIONS AT THE CITY UP-TO-DATE TODAY??

Your beneficiary is the person you elect to receive a benefit in the event of your death.  Electing beneficiaries, and keeping your choice up-to-date, allows you to make the decision as to who receives your money.

YOUR LISTED BENEFICIARIES OVERRIDE YOUR WILL!  Please make sure that your information is current.

If you had named your parents beneficiaries before you were married, for example, your parents--not your spouse--can inherit your account, unless you update your designations.  A former spouse could inherit your 401k or 457 account if you don't update your beneficiary designation after a divorce! 

1.  To check on your MetLife Basic and Voluntary Life Insurance Beneficiaries:

All benefits eligible employees need beneficiary designations for basic life ($50,000) and any voluntary life insurance.  You can check on who your beneficiaries are online in the BOSS system.  Enter your user name and password (last four of your social security number is your initial password), and under my profile on the left hand side of the screen, click on beneficiaries.

2.  To check on your ICMARC 401k/457 beneficiaries:

If you are benefits eligible and contribute to 401K or 457, go to the ICMARC website.  You can create a new user ID by following the link on the homepage and putting in some general information.  You will then have access to the website to see who you have listed as beneficiaries, and make changes as necessary.

3.  To check on your URS Pension beneficiaries:

If you have a URS pension, go to the Utah Retirement Systems website to check on the beneficiaries you have designated.  The homepage will have a box at the top right of the screen to log in to your "my urs" account.  You can create an account by following the link create account.  You will need your account number beginning with the letter W.  Don't know it??  Just simply call URS at 800-695-4877 or 800-688-4015 and ask.