Designating a Beneficiary

When you become an IPERS member, you need to designate a beneficiary — the person or people who will receive any benefits payable upon your death. Keeping your designation current ensures IPERS can carry out your wishes.

The easiest way to designate or update your beneficiary is through My Account. You can also complete the IPERS Beneficiary Designation form (171.8 KB) .pdf .

If you die without a designated beneficiary on file, your estate may become your beneficiary.

A few important things to know:

• Your beneficiary designation is not affected by your will.
• A divorce may affect your designation; an IPERS Qualified Domestic Relations Order can supersede it.
• If you are both an IPERS member and a beneficiary for another member, you may receive retirement and death benefits at the same time.

Payments to minors

IPERS cannot make payments directly to minors. If the amount to be paid is less than $25,000, IPERS can make the payment to an adult as custodian for the minor. If the amount is $25,000 or more, it must be paid to a court-established conservator or trustee. If the minor will turn 18 before the application deadline, they can wait and apply upon reaching age 18. The minor's legal guardian should contact IPERS to confirm that waiting will not cause the benefit to be forfeited.

Changing beneficiaries

You can update your beneficiary designation at any time in My Account. You can also complete a new IPERS Beneficiary Designation form (171.8 KB) .pdf . 

If you are a retired reemployed member, your most recent beneficiary designation governs all death benefits payable.

If you retired under Option 4 or 6 (joint and survivor annuities) and return to work, you may designate a different beneficiary for your reemployment period, but only if your contingent annuitant is either your former spouse or has died before you.
 

When signatures are required

If you are married, your IPERS Beneficiary Designation form must be signed by your spouse and witnessed by a disinterested person. 

If you are unable to locate your spouse after reasonable efforts, you must contact IPERS to request an Affidavit Regarding Inability to Locate Spouse. Once IPERS receives that form, you can file an IPERS Beneficiary Designation form (171.8 KB) .pdf without spousal consent. IPERS is held harmless in acting upon your sworn statement if the missing spouse later comes forward. 

If either you or your beneficiary has a name change, contact IPERS to update and sign all applicable documents.

If your beneficiary dies

Update your designation promptly. If you do not name a new beneficiary, your death benefits become payable to your estate, or may pass under Iowa's laws on intestate succession if no estate is opened.

Death benefit payment deadline

Generally, your designated beneficiary must apply for a lump-sum death benefit within five years of the date of your death or the benefit is forfeited. A longer period may apply if your spouse is your designated beneficiary. A shorter claim period also may apply, depending on Internal Revenue Service rules for required minimum distributions of accounts. 

Discuss your IPERS death benefits with your beneficiaries and stress the importance of notifying IPERS of your death within 30 days.

If you take a refund

If you leave public employment and take a refund, your beneficiary designation is canceled. If you return to covered employment, update your designation in My Account or complete a new Beneficiary Designation form (171.8 KB) .pdf .