Change Beneficiaries

Providing for your loved ones

By enrolling in IU insurance, savings, and retirement plans, you’ve already taken an important step to provide future financial security for your loved ones. But one step people often forget is designating a beneficiary A beneficiary is one or more individuals or organizations that will receive the proceeds from your plans in the event of your death.

By periodically reviewing your beneficiary designations, and updating them as your circumstances change, you can feel confident that your assets will be distributed the way you prefer.

If you want to add your children, be aware that there are specific laws regarding the payment of benefits to minor children. Before listing them as beneficiaries, you should consult your legal advisor to determine the best way to accomplish this under state law.

When and how to update

Beneficiaries can be changed at any time and don’t require an IRS qualifying event or open enrollment. However, it’s still a good idea to review your beneficiaries at least once a year and consider updating them when you experience a major life event — such as marriage or the birth of a child — or when you update your will or estate.

Most policies and plans require you to identify your beneficiary’s legal name, relationship to you (spouse, child, mother, etc.), and date of birth. While not always required, some designations also ask for additional information such as mailing address, email, phone number, or Social Security number.

You must designate beneficiaries for each of your benefit plans and each retirement account separately. In some cases, you can change beneficiaries with IU, while in other cases you must work with the vendor directly.

Update through the IU Employee Center

You can easily change beneficiaries for each of these plans in the Employee Center:

  • Basic life insurance
  • Supplemental life insurance
  • Supplemental AD&D

Go to Employee Center

Update directly with vendor

  • Health savings account (HSA)
  • Retirement plans, including

Fidelity Investments: Log in to Netbenefits.com/Indiana. Select Accounts & Benefits under the IU logo. Select Update your beneficiaries. For assistance, call Fidelity at 800-343-0860

TIAA: After logging in to TIAA, you can update your beneficiaries for accounts you hold with TIAA. If you need help, call TIAA at (800) 842-2252 (Monday through Friday, 8:00 a.m. to 10:00 p.m. EST or Saturday 9:00 a.m. to 6:00 p.m. EST).

Public Employees’ Retirement Fund (PERF): For employees enrolled in PERF, you must update your beneficiaries directly with Indiana Public Retirement System (INPRS). You can log in to the PERF website and follow the “Personal Info” link, or call INPRS at 844-GO-INPRS.