Beneficiaries
About Beneficiaries
- A beneficiary is a person, Trust or an Estate eligible to receive benefits upon your death.
- You may name any person, Trust or an Estate as your beneficiary.
- You must specify the percentage of your benefit that you want each Beneficiary to receive.
- You may also name a Contingent Beneficiary, who would receive your benefit in the event that the Primary Beneficiary pre-deceases you.
In the event that a designated primary beneficiary dies before you, the proceeds will be paid to the remaining primary beneficiaries in equal shares or all to the sole remaining beneficiary. If all designated primary beneficiaries die before you, the proceeds will be paid to the designated contingent beneficiaries. If you do not have any contingent beneficiaries, proceeds will follow the line of succession as determined by the state.
Universal Beneficiary Designation/Change Form
Unless otherwise noted by the employee, Form 1938 (pdf) will designate beneficiaries for all group covered plans to include the following:
- Basic or Core Life Insurance
- Supplemental Life Insurance
- AD&D Insurance
- Business Travel Insurance
Fidelity Investment Beneficiaries
The Form 1938 (pdf) does not cover beneficiaries for the LANS 401(k) plan. To designate beneficiaries for the LANS 401(k) plan, contact the Fidelity Investments at 1-800-343-0860.
Designating Beneficiaries
You may designate your Beneficiaries online, using the Oracle Self Service application. You must have a CRYPTOCard to access Oracle Self Service.
You will need:
- Social Security Number of Beneficiary
- Legal Name of Beneficiary
- Relationship of Beneficiary to you
- Address of Beneficiary, if different from yours
Steps to use Oracle Self Service
If you are updating your beneficiaries through Oracle Self-Service during Open Enrollment, you will need to go through other screens regarding benefits before coming to the Beneficiary Designation screen. If you only want to make changes to your beneficiary designations, you do not need to make changes on any other screens.
Duplicate Social Security Number Error in Oracle
If you receive a duplicate Social Security Number error when adding a beneficiary, contact the Benefits Office at 505-667-1806 for assistance.
Updating a Missing SSN on a Beneficiary
Please contact the Benefits Office at 505-667-1806 to update the contact record manually.
Designating a Trust, Estate, or Organization as Beneficiary
Fill out the Universal Beneficiary Designation/Change Form (Form 1938 (pdf)) and fax it to 505-665-2156 or mail it to MS P280.
To designate a trust:
- Select "Trust" as the beneficiary description and indicate the percent assigned to the trust.
- In Section 3, "Trust Designation," fill in the name and address for each trustee. Then fill in the title and date of the Trust Agreement in the fields provided.
To designate your estate:
- Select "Other" as the beneficiary description and write "Estate" in the blank space provided and indicate the percent to be assigned to your estate.
To designate an organization:
- Select "Corporation/Organization" as the beneficiary description and indicate the percent to be assigned to the organization.
- Write the legal name of the corporation or organization the space for the beneficiary first name.
You must provide the address, city and state of operation for each organization or corporation listed.
Making Changes Designations
- You can update your beneficiary designations as often as you would like by using Oracle Worker Self Service.
- Your latest designation will be your official designation.
- To update beneficiaries (such as SSN's and birthdates) contact the Benefit Office at 505-667-1806 for assistance.
Removing a Beneficiary
- Contact the Benefits Office at 505-667-1806 or benefits@lanl.gov.
- Removing a record from your beneficiary list will end any contact relationship tied to you in Oracle, which may affect benefits.
