Form Kpers 7 99R – Fill Out and Use This PDF

ho Can Yoame as Beneicar

You can choose:

•A living person.

•A trust.

•Your estate.

•Any combination of these options.

You cannot name a church or other charitable organi- zation as a beneficiary.

If you choose more than one beneficiary, each will share your benefits equally. You can also name a contingent beneficiary to receive your benefits if your primary beneficiary is not living. Only members can complete the designation form. Conservators, guard- ians and those with power of attorney cannot select or change a KPERS beneficiary. Each time you complete a beneficiary form, it cancels all those you have previ- ously completed. Every time you complete the form, fill in both the primary and contingent beneficiary sec- tions if you intend to have a contingent beneficiary. If you complete only the contingent section and leave the primary blank, you will have no primary beneficiary, even if a past form names one. The Board of Trustees recognizes only those designations received in the Re- tirement System office before your death.

Important: You must name a primary beneficiary in Part B. If no primary or contingent beneficiary is liv- ing at the time of your death, your retirement benefits will be paid according to the line of descendency in K.S.A. 74-4902(7).

hat Yor Beneicarecees

Your beneficiary receives your $4,000 retiree death benefit and any of your remaining contributions and interest.

If you chose a five, ten or 15-year Life-Certain payment option when you retired, your beneficiary receives a monthly benefit for the rest of the guaranteed period after your death instead of returned contributions and interest.

Namnrst or Yor Estate

If you name a trust, provide the name of the trust (e.g., Your Name, Trust #1). If you name your estate, write “Estate of (Your Name)” or “My Estate.” You can name another primary or contingent beneficiary in addition to your estate or a trust, and each will share your benefit equally.

Namnneral Estalshment

In addition to a living person, your estate and a trust, you can name a funeral establishment in Part D to directly receive your $4,000 retiree death benefit for funeral expenses. If you directly name a funeral es- tablishment, the establishment will pay the tax on the

benefit as regular business income. If you designate a funeral establishment, you also need to name a prima- ry beneficiary to receive any other retirement benefits.

If you wish to keep your current beneficiaries and simply add the optional funeral establishment designa- tion, you may leave Parts B and C blank and initial the statement in Part D. This will add the funeral establish- ment to your beneficiary record without changing your current primary and contingent beneficiaries.

Namnnor Chl

If you name a minor child as a primary beneficiary, lump-sum benefit amounts under $10,000 will be paid out under the Kansas Uniform Transfer to Minors Act. The Retirement System will send the guardian or custodian a form to complete and the benefit is paid to that individual on behalf of the minor. If the benefit is $10,000 or more, Kansas law requires a conservator be appointed to receive the benefit on the child’s behalf.

Namntonal Beneicares

If you need to name more beneficiaries than space allows on the Designation of Beneficiary – Retired form (KPERS-7/99R), use an Additional Retirement Benefi- ciaries page. This page must be with your completed Designation of Beneficiary – Retired form to be valid.

You can download an additional page at www.kpers.org or contact the Retirement System to receive one by mail.

emershp n ore Than One Retrement Sstem ERSesoarf Reents

If you are a member of more than one KPERS-admin- istered retirement system (KPERS, KP&F, Judges), this beneficiary designation will become your designation for all systems.

If you are retired in one retirement system and active in another, you can also complete an Additional Life Insurance Beneficiaries page if you wish to name a separate beneficiary for your group life insurance. Additional pages must be with your completed Designation of Beneficiary – Retired form to be valid.

For additional information on designating a beneficiary, visit www.kpers.org or refer to your membership guide.