Keeping your beneficiary designations current is an important step to take for your family to make sure your wishes are followed.
As a VRS member, you may have two separate places to designate a beneficiary:
- myVRS: For your VRS defined benefit account and basic group life insurance.
- DCP Account: For the Hybrid Retirement Plan defined contribution component or any VRS defined contribution plan you may have (i.e., deferred compensation or optional retirement plans).
A beneficiary named in myVRS does not automatically apply to your defined contribution accounts, and the reverse is also true. You’ll need to designate beneficiaries separately in both accounts.
Review After Major Life Events
Milestone events such as marriage, divorce or the birth or adoption of a child are also reminders to update your beneficiaries. Log in to both accounts to make sure your designations reflect your current wishes.
Update beneficiaries in myVRS under Manage My Benefits, and in your DCP Account under Personal Information.
