As a DERP member, you’re entitled to a lifetime of benefits when you retire. But did you know that your spouse, children, or other loved ones may also be eligible for survivor benefits if you pass away while employed or after you retire? Even if you’re not vested.
Since your DERP Pension Benefit provides benefits to your survivors, it’s important to designate a beneficiary. If you don’t name a beneficiary and pass away, we can’t provide benefits to your survivors.
Designating Your DERP Beneficiary
As an active employee, you can designate a primary beneficiary and contingent beneficiary.
- Your primary beneficiary receives a survivor benefit upon your passing.
- Your contingent beneficiary receives a survivor benefit in the event you and your primary beneficiary pass away at the same time.
Who Can You Pick as Your Primary Beneficiary?
- If you’re married, your primary beneficiary must be your spouse.
- If you’re not married, but have children under the age of 21, you must name all your children under age 21 as your primary beneficiaries.
- If you’re not married, and don’t have children under age 21, you may name any one individual to be your primary beneficiary.
- You may not list an estate, trust, or charity as either your primary or contingent beneficiary.
How to Designate Your DERP Beneficiary
Designating your DERP beneficiary is easy! Just log in to your MyDERP.org account and click the Beneficiary button.
You’ll need the full name, Social Security Number, gender, birthday, and address for any of the beneficiaries you designate.
Important – Beneficiary designations in Workday don’t carry over to DERP. You must designate beneficiaries directly with DERP.