Now is always the right time to review and update the beneficiaries on your retirement plan. It’s an important step to avoid any complications or uncertainty about where your money will go in the event of your death.
Take a moment to carefully consider who you name as your beneficiary. If you’re married, your default beneficiary will be your spouse, but there could be other factors to think about. Who makes the most sense for your situation? This is a decision worth discussing with your family to ensure there’s no confusion about your intentions.
Once you’ve made your choice, have a conversation with the person you’ve named. It’s helpful for them to know they’ve been chosen as your beneficiary and to understand what that means for the future.
Here is how to update your beneficiaries:
- If you are still making contributions to your plan, login to the Member Portal, select the “I want to...” button and select “Update my beneficiary.”
- If you are receiving payments on the Periodic Payment Plan (PPP), you should email erpservicecenter@nwpretirement.com or call 866-723-0001.
- If you are an annuitant with Securian, you should email Securian at ContractBenefits@Securian.com or call 800-272-4772 and reference contract #202471.
If you have more questions, email retirement@eder.org.
