An important (but sometimes overlooked) step in planning for

retirement is to review and update the designation of beneficiaries

to your various federal employee benefits.

Upon your death, who would receive the lump sum payment of your

retirement contributions (if you don't designate a survivor benefit

annuity)?

Who will be the beneficiary to your Thrift Savings

Plan (TSP) and your Federal Employees' Group Life Insurance

(FEGLI)?

Are you sure these designations are up-to-date?

Not keeping

these designations updated could result in unfortunate financial situations

and possible legal disputes for your survivors down the

road.

Over the course of their career, most federal employees have several

life events that may require updating beneficiary

designations.  Examples include:

• divorce

• marriage

• birth of a child

• adoption of a child

• death of a family member

If you do not have a designated beneficiary for your TSP, FEGLI, or

the lump sum payment of your retirement contributions, by law those

benefits will automatically be paid in the following order of

precedence:

1. to your widow or widower

2. to your child or children in equal shares, with the share of any deceased

   child distributed among the descendants of that child

3. to your parents (or parent)

4. to the executor or administrator of your estate

5. if none of the above, to your next of kin who may be entitled under the laws

   of the state in which you live at the time of your death.

How do you update your designation of

beneficiaries?

If copies of your previously submitted beneficiary forms are not available, you may want to file a new

designation form.  Below is a list of the forms needed to do so (the most

up-to-date forms can be found at href="http://www.opm.gov/forms/html/sf.asp">http://www.opm.gov/forms/html/sf.asp)

• Your CSRS retirement contributions:  Standard Form 2808

• Your FERS retirement contributions:  Standard Form  3102

• For unpaid compensation of a deceased civilian federal

  employee:  Standard Form 1152

• For FEGLI:  Standard Form 2823

• For Thrift Savings Plan:  Form TSP-3  (found at: href="http://www.tsp.gov">www.tsp.gov)