TRS updates guide member beneficiary designations for death benefits

The Teachers' Retirement System (TRS) Board of Trustees in Illinois held a meeting on June 18, 2025, focusing on the critical topic of beneficiary designation for members. The discussion emphasized the importance of keeping beneficiary information current to ensure that death benefits are distributed according to members' wishes.

During the meeting, it was highlighted that designating a beneficiary is one of the most significant actions a TRS member can take. Members must complete a beneficiary designation form, as this information takes precedence over any wills or legal decrees. If a member fails to submit a valid form, benefits will default to the estate, potentially leading to unnecessary legal complications for loved ones.

The Board urged members to review their beneficiary designations annually or after major life events, such as marriage, divorce, the birth of a child, or the death of a loved one. Members can update their beneficiaries through the TRS website or by contacting TRS directly for assistance.

Detailed instructions were provided on how to fill out the beneficiary designation form correctly. Members were advised to ensure they are using the most current version of the form and to complete specific sections based on their personal circumstances. The meeting also clarified that submitting multiple forms could lead to confusion, as only the most recent submission would be honored.

In conclusion, the TRS Board of Trustees reinforced the necessity of maintaining accurate beneficiary designations to protect members' families and streamline the distribution of benefits. Members are encouraged to take proactive steps in managing their beneficiary information to avoid complications in the future.