It's always good practice to review and update your beneficiary information, especially if you've had an important life event, like a marriage or the birth of a child.
Life insurance
You can change your life insurance beneficiaries any time through MyBenefits. The change is effective on the date the request was made. Note that MetLife will allow beneficiary changes by power of attorney only if the documents specifically state an attorney-in-fact has the power to change beneficiary designations.
If you do not designate eligible life insurance beneficiaries, death benefits will be paid to:
- Your estate;
- Your lawful spouse, if living; otherwise:
- Your natural or legally adopted child or children, in equal shares, if living; otherwise:
- Your parents, in equal shares, if living; otherwise:
- Your siblings, in equal shares, if living.
Retirement defined benefit plans
As an active member, you can designate three types of beneficiaries for your retirement account:
- Primary beneficiaries for your in-service death benefit or refund of contributions. Multiple beneficiaries share equally in a survivor monthly benefit;
- Contingent beneficiaries in case of death of the primary beneficiaries. All primary beneficiaries must be deceased before any contingent beneficiaries will be paid; and
- Incidental death benefit beneficiaries.
Active members can change their beneficiary designations through Member Access. To make a change, you will need to have all beneficiary information, such as full names, dates of birth and Social Security numbers. Any beneficiary changes you make will override your prior designations and will take effect immediately. Before making any changes, you might wish to consult an attorney/estate planner.
You must complete an Active Member Beneficiary Form (Form 1102) or Beneficiary/Trustee Designation Form (Form 1103) if you choose to designate any of the following as your beneficiary:
- Trust.
- Entity.
- Charity.
- Organization.
You can name your estate as a beneficiary for your account; however, PEBA cannot pay monthly benefit payments to an estate. If you use a paper form, your signature must be notarized before submitting the form to PEBA. As an active member, you can change your beneficiaries at any time before retirement.
State Optional Retirement Program
If you participate in the State Optional Retirement Program, you must update your beneficiaries with your chosen service provider. Your beneficiary must submit a claim to the service provider to receive your account balance in the event of your death.
If your employer offers incidental death benefit coverage, you can update your incidental death benefit beneficiaries through Member Access. You can also complete a State ORP Active Incidental Death Benefit Beneficiary Designation Form (Form 1106). If you use a paper form, your signature must be notarized before submitting the form to PEBA.
South Carolina Deferred Compensation Program
If you participate in Deferred Comp, you must update your beneficiaries with Empower. Your beneficiary must submit a claim to Empower to receive your Deferred Comp account balance in the event of your death.