3 Reasons Employees Should Update Beneficiaries Online

With the ability to update beneficiaries online, your employees can enjoy efficiency, keep their information up to date and unplug that fax machine.

You know how important it is for your employees to designate beneficiaries for their TCDRS accounts and keep that information updated. But did you know that sending in paper beneficiary forms — which can easily become lost or outdated — can cause more problems for your employees than not having a beneficiary on file at all?

Here are three reasons why adding and updating beneficiaries online is easier, faster and safer than sending in paper forms:

No More Outdated Beneficiaries

One of the most unfortunate outcomes we see as the result of paper beneficiary forms is when an employee passes away with an outdated beneficiary designation on file. Having an outdated beneficiary can not only cause processing delays, but it can also put extra burdens on late employees’ loved ones as they navigate complicated legal processes.

When employees are asked to fill out a paper beneficiary form during onboarding, they are more likely to forget to update their beneficiary when they experience life changes. Additionally, sending in paper forms increases the chances the forms will never actually make it to TCDRS.

We reach out to employees who do not have a beneficiary on file and frequently remind your employees to check their beneficiaries each year. However, the best way to ensure your employees and their loved ones are protected is by eliminating the use of paper beneficiary forms from your onboarding processes entirely. Instead, please encourage new employees to register at TCDRS.org and keep their beneficiaries updated in their online accounts.

Using our website is more secure, convenient and efficient than sending in paper. Please urge your employees to register online at TCDRS.org and use their Member Portal to keep their account information updated at all times. Those who do not wish to register online should ask you for assistance or call TCDRS Member Services.

As you enroll new employees, please also provide us with their email addresses so we can touch base with them sooner.

We recommend building these steps into your preexisting onboarding processes. This will ensure your employees are familiar with how to manage their accounts online right from the start.

Thank you for your support as we go paperless!

No More Processing Delays

Paper forms can cause processing delays. One of the most common inefficiencies we see is when we receive a form with incomplete fields or a missing signature. We must then track down the member to correct the error(s) before the form can be processed. And all the while, the employee has an outdated or missing beneficiary on their account.

When an employee selects a beneficiary online, or works with you or our call center to make the change, the update is done right the first time.

No More Fax Machines

Filling out paper forms and sending them to TCDRS is unnecessarily inconvenient — particularly if you or your employees have to wrestle with a fax machine. All that effort just for the paper to jam and be left wondering if TCDRS received an illegible, ink-smudged document.

With TCDRS.org, your employee can sign into their online account and update their beneficiaries in just a few clicks! You can also easily complete the process for them in your Employer Portal.

Plan Administration