New IMRF members as well as active and inactive members wishing to change their beneficiaries should complete Form 6.11, “Designation of Beneficiary.” The designation becomes effective when the form is on file in IMRF’s office.
IMRF recommends members designating a beneficiary online using their Member Access account.
After the employer enrolls a member online, IMRF mails a partially pre-populated Designation of Beneficiary form to the member’s home with a cover letter and self-addressed, postage-paid envelope. The letter confirms the member’s participation in IMRF and asks the member to complete and return the Designation of Beneficiary form. IMRF follows up with the member if the Designation of Beneficiary form is not returned.
A member should update his or her beneficiary designation whenever a major life event occurs, such as a marriage, divorce, birth of a child or death of a previously named beneficiary.
Members can view their beneficiary information via the Member Access area of IMRF’s Website, www.imrf.org.
IMRF can only accept the signature of the member to change a beneficiary. If someone other than the member submits a designation form, including an agent under a power of attorney, the form will not be accepted.
Public Act 96-1140 changed the default beneficiary to the member’s estate.
Previously, an active or inactive member’s spouse was the default beneficiary. Now, the member’s estate is the default beneficiary, regardless of the member’s marital status. The member’s spouse may not have the choice of a surviving spouse pension (assuming the spouse is eligible) unless the member has a designation of beneficiary form on file naming the spouse as his or her sole primary beneficiary.
Previously, a retired member’s spouse was the default beneficiary for the $3,000 lump sum death benefit. Now, a retired member’s estate is the default beneficiary for the $3,000 lump sum death benefit.
Naming
a spouse as co-beneficiary
A member, who is married or in a civil union and not yet retired, can choose
to name his or her spouse as co-beneficiary with other beneficiary(ies).
As a cobeneficiary, the spouse would
share in the lump sum death benefit. Under this arrangement, the spouse
would not be eligible for a surviving spouse pension.
Naming
secondary beneficiaries
Secondary beneficiaries receive the death benefit if no primary beneficiary
survives. The secondary beneficiary(ies) may be children, parents, any
other persons, a charity, or the member’s estate.
The default beneficiary is the member’s estate. A single, widowed or divorced member may choose to name children, parents, any other persons, a charity, or trust in lieu of the estate.
A member may designate children by naming the specific children.
Designation
of Minor Children (under the age of 18)
If a member names a minor(s) (individual under age 18) as a Primary Beneficiary(ies),
death benefits will be paid in care of the minor’s guardian.
If the member wants someone other than the guardian to receive the IMRF benefit on behalf of the minor, the member may name a custodian, who is 21 years of age or older, under the Illinois Uniform Transfers to Minors Act (IUTMA). This is done by entering the name of the individual the member wishes to appoint as custodian followed by ”as custodian for____________ (name of minor) under the IUTMA.”
When a custodian is designated under the IUTMA, the beneficiary cannot directly receive the death benefit until age 21.
The member may change his or her beneficiary(ies) by filing a new Form 6.11, “Designation of Beneficiary.” IMRF recommends members use their online Member Access account to make beneficiary updates.
A member who gets married, divorced, or whose spouse dies should file a new Form 6.11. Members who have designated their children by name should update the form when they have additional children.
NOTE: In the event that no Form 6.11, ”Designation of Beneficiary,” is filed for a member, the member's estate, will be the beneficiary.