May I change the optional payment plan, contingent annuitant or beneficiary I selected at any time during the retirement process or after retirement?
You can change your payment option and/or your contingent annuitant at any time prior to cashing your first retirement check but no later than the 25th of the month following the month your first check is mailed. After this time, you will not be allowed to change your contingent annuitant or payment option, unless you chose the 10 year or 20 year option benefit and your designated contingent annuitant has died. In this case you may name a new contingent annuitant. Under this circumstance you should contact the Retirement Payroll Unit as a certified copy of the death certificate for the deceased annuitant as well as a new income payment election form will be required in order to make such a change. As a retiree, you can change your beneficiary for the guaranteed refund (if applicable) at any time by completing and submitting the proper form to the Retirement Payroll Unit. Click here for the appropriate form.
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