New Beneficiary Options for KPERS

Due to new legislation, all active members can name separate beneficiaries for insurance and retirement benefits
beginning January 1, 2005. Previously, when a KPERS member named a beneficiary, all of his or her benefits
went to the same beneficiary.

Members can now name separate beneficiaries for:

1. KPERS benefits (return of contributions and interest).
2. Life insurance proceeds (basic and optional life insurance).

One of the significant benefits of this change is that it allows employees to preserve their spouse's right to a pension
by naming the spouse as sole beneficiary for the KPERS benefit, and at the same time, naming someone else to
receive their life insurance proceeds.

Members who are happy with their current designations do not need to do anything. This new option is purely
for members who wish to take advantage of the change. If you choose to perform this option, the following link will take you to the KPERS website
for you to complete the K-7/99 form. http://www.kpers.org/forms/k799.pdf

Once the form is completed on-line, print it off, sign your name, and date it. You will also need a second person to sign as a witness to the validity of the form.
Once finished, please send the completed form to OFM-Payroll.

If you have questions, please contact Anita Fonseca @ 715-0568 or Elizabeth Pike @ 715-0572 in the Office of Financial Management.