Get the free SFERS Designation of Beneficiary Form - San Francisco Employees - mysfers

SEERS FACT SHEET: Beneficiary Designations Use the Beneficiary Designation Form to: 1) elect beneficiaries for lump sum death benefits payable upon your death and 2) elect beneficiaries for survivor

How to fill out sfers designation of beneficiary

How to fill out SFERS Designation of Beneficiary:

1. Start by obtaining the SFERS Designation of Beneficiary form. This form can be downloaded from the SFERS website or obtained from the SFERS office.
2. Begin by entering your personal information, such as your full name, address, phone number, and email address, in the designated fields on the form.
3. Next, provide your SFERS membership information, including your SFERS membership ID or Social Security number, as well as your date of birth.
4. Identify the SFERS plan in which you are enrolled, such as the Retirement, Disability, or Deferred Compensation Plan, and indicate your membership status, whether you are currently an active member or a retired member.
5. Specify the percentage of your total benefit to be allocated to each primary beneficiary. This can be done by writing the percentage next to each beneficiary's name or by designating specific dollar amounts for each beneficiary.
6. If you want to designate secondary beneficiaries, provide their names and the percentage or dollar amount you wish to allocate to them.
7. Indicate the relationship of each beneficiary to you, such as spouse, child, sibling, or other relative. If a beneficiary is a non-relative, provide additional information about their relationship to you.
8. If you wish to make contingent or alternate beneficiary designations, clearly state their names and the percentage or dollar amount you want to assign to them.
9. Date and sign the completed form. Remember to include your contact information in case SFERS needs to reach you for further clarification or updates related to your beneficiary designation.

Who needs SFERS Designation of Beneficiary:

1. All members of the San Francisco Employees' Retirement System (SFERS) who wish to ensure that their retirement, disability, or deferred compensation benefits are distributed according to their wishes upon their death.
2. Active SFERS members who want to designate beneficiaries to receive their benefits in the event of their death.
3. Retired SFERS members who want to update or change their existing beneficiary designation to reflect their current wishes.
4. Any SFERS member who has experienced a significant life change, such as marriage, divorce, birth of a child, or death of a beneficiary, and needs to update their beneficiary information accordingly.
5. It is advisable for all SFERS members to periodically review and update their designation of beneficiaries to ensure that their benefits are distributed to the intended recipients.

Remember, it is essential to consult with a financial or legal advisor if you have any complex beneficiary designations or if you have questions about the SFERS Designation of Beneficiary form.

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What is sfers designation of beneficiary?

SFERS designation of beneficiary is a form that allows members of the San Francisco Employees' Retirement System (SFERS) to designate who will receive their retirement benefits in the event of their death.

Who is required to file sfers designation of beneficiary?

All active members of SFERS are required to file a designation of beneficiary form.

How to fill out sfers designation of beneficiary?

Members can fill out the SFERS designation of beneficiary form by providing their personal information, the name of the designated beneficiary, and the percentage of the benefit to be received.

What is the purpose of sfers designation of beneficiary?

The purpose of SFERS designation of beneficiary is to ensure that members' retirement benefits are distributed according to their wishes in the event of their death.

What information must be reported on sfers designation of beneficiary?

Members must report their personal information, the name of the designated beneficiary, and the percentage of the benefit to be received on the SFERS designation of beneficiary form.