Update Your Beneficiary
It is important to update your beneficiary designations whenever your circumstances change. Before you submit your beneficiary designation, check with your financial advisor, custodian, or attorney to determine whether it will produce the results that you desire. Keep a copy of all beneficiary designations and review them periodically. You may change your beneficiary designations at any time.
There are separate beneficiary designations for each plan and account. You must complete a separate beneficiary designation for each plan in which you are enrolled. If you have money in both TIAA and Fidelity retirement accounts, you must designate beneficiaries for each account.
Your beneficiary designation for U-M life insurance plans does not carry over to your retirement savings plans, or vice versa.
How to Designate or Change Your Beneficiary
TIAA Retirement Savings Plan
Fidelity Retirement Savings Plan
If You Are Rehired
If you have an existing U-M account for the type of plan in which you are enrolling from a previous employment period with the university it will continue to be used and a new account will not be created.
Be sure your name, address, beneficiary and investment funds with TIAA and Fidelity Investments are correct. They may have become outdated since your previous employment with the university. For example, events such as a change in your residence, marital status, or a birth or adoption would necessitate you update your mailing address for quarterly statements or beneficiary designation.