Important: Are Your Beneficiary Designations Current?
Do you remember the last time you designated a beneficiary for your U-M life insurance and retirement savings plan accounts? The importance of keeping your beneficiary designations up to date cannot be emphasized enough. If you can't remember your designations, or if you had a change in your life—a marriage or divorce; the birth or adoption of a child; the loss of a loved one you had designated as a beneficiary—it is crucial that you update your beneficiary designations.
Keep in mind that there are separate beneficiary designations for:
- Your retirement savings accounts with TIAA
- Your retirement savings accounts with Fidelity Investments
- Your life insurance under MetLife
It’s a good idea to check with your financial advisor, custodian, or attorney to determine whether your beneficiary designation(s) will produce the results that you desire. Keep a copy of all beneficiary designations and review them periodically.
You can update your beneficiary designations at any time. Visit Your Beneficiary for instructions.
Is the Information for Your Covered Dependents Accurate?
If you have dependents covered under your benefits, it is important to verify that their information on record with the university is accurate. Having the correct information may help avoid delay in receiving health care services and speed claims processing. To view your dependent information:
- Go to Wolverine Access
- Click Employee Self-Service on the Faculty & Staff tab.
- Log in with your uniqname and UMICH password.
- If you have DUO two-factor authorization enabled, choose an authentication method to continue the log in process.
- Click Benefits.
- Under Benefits Summary Self Service, click Dependent/Beneficiary Info.
Check that names are spelled correctly and birth dates and social security numbers are correct. If the information is correct, no further action is required.
If the information is not correct, complete the Dependent Information Form and submit it to SSC Benefits Transactions as indicated on the form. Please note that submitting this form only corrects the information on record with the university and does not change your dependent’s benefits enrollment. You may add eligible dependents to your coverage during Open Enrollment with coverage effective January 1.