49-11-609. Beneficiary designations — Revocation of beneficiary designation — Procedure — Beneficiary not designated — Payment to survivors in order established under the Uniform Probate Code — Restrictions on payment — Payment of deceased’s expenses.
| (1) |
As used in this section, “member” includes a member, retiree, participant, covered individual, a spouse of a retiree participating in the insurance benefits created by Sections 49-12-404, 49-13-404, 49-22-307, and 49-23-306, or an alternate payee under a domestic relations order dividing a defined contribution account. |
Terms Used In Utah Code 49-11-609
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Alternate payee: means a member's former spouse or family member eligible to receive payments under a Domestic Relations Order in compliance with Section 49-11-612. See Utah Code 49-11-102
- Beneficiary: means any person entitled to receive a payment under this title through a relationship with or designated by a member, participant, covered individual, or alternate payee of a defined contribution plan. See Utah Code 49-11-102
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Covered individual: means any individual covered under Chapter 20, Public Employees' Benefit and Insurance Program Act. See Utah Code 49-11-102
- Decedent: A deceased person.
- Dependent: A person dependent for support upon another.
- Intestate: Dying without leaving a will.
- Member: means a person, except a retiree, with contributions on deposit with a system, the Utah Governors' and Legislators' Retirement Plan under Chapter 19, Utah Governors' and Legislators' Retirement Act, or with a terminated system. See Utah Code 49-11-102
- Office: means the Utah State Retirement Office. See Utah Code 49-11-102
- Participant: means an individual with voluntary deferrals or nonelective contributions on deposit with the defined contribution plans administered under this title. See Utah Code 49-11-102
- Person: means :Utah Code 68-3-12.5
- Probate: Proving a will
- Retiree: means an individual who has qualified for an allowance under this title. See Utah Code 49-11-102
| (2) |
| (a) |
Except as provided under Subsection (2)(b) or (c), the most recent beneficiary designations signed by the member and filed with the office, including electronic records, at the time of the member’s death are binding in the payment of any benefits due under this title. |
| (b) |
| (i) |
The divorce or annulment of a member’s marriage shall revoke the member’s former spouse as a beneficiary from any of the member’s beneficiary designations. |
| (ii) |
A revocation of a former spouse as a beneficiary in accordance with Subsection (2)(b)(i) does not revoke any other beneficiaries named on the member’s beneficiary designations. |
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| (c) |
A former spouse whose beneficiary designation is revoked solely under Subsection (2)(b) shall be revived on the member’s beneficiary designations by:
| (i) |
the member’s remarriage to the former spouse; or |
| (ii) |
a nullification of the divorce or annulment. |
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| (d) |
A revocation under Subsection (2)(b) does not apply to a former spouse named as a beneficiary in a beneficiary designation signed by the member and filed with the office after the date of the divorce or annulment. |
| (e) |
The office is not liable for having made a payment of any benefits to a beneficiary designated in a beneficiary designation affected by a divorce, annulment, or remarriage before the office received written notice of the divorce, annulment, or remarriage. |
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| (3) |
| (a) |
Except where an optional continuing benefit is chosen, or the law makes a specific benefit designation to a dependent spouse, a member may revoke a beneficiary designation at any time and may execute and file a different beneficiary designation with the office. |
| (b) |
A beneficiary designation or change of beneficiary designation shall be completed on forms provided by the office. |
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| (4) |
| (a) |
All benefits payable by the office may be paid or applied to the benefit of the decedent‘s heirs in the order of precedence established under Title 75, Chapter 2, Intestate Succession and Wills, if:
| (i) |
no beneficiary is designated or if all designated beneficiaries have predeceased the member; |
| (ii) |
the location of the beneficiary or secondary beneficiaries cannot be ascertained by the office within 12 months of the date a reasonable attempt is made by the office to locate the beneficiaries; or |
| (iii) |
the beneficiary has not completed the forms necessary to pay the benefits within six months of the date that beneficiary forms are sent to the beneficiary’s last-known address. |
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| (b) |
| (i) |
A payment may not be made to a person included in any of the groups referred to in Subsection (4)(a) if at the date of payment there is a living person in any of the groups preceding it. |
| (ii) |
Payment to a person in any group may be based upon receipt of an affidavit in a form satisfactory to the office that:
| (A) |
there are no living individuals in the group preceding it; |
| (B) |
the probate of the estate of the deceased has not been commenced; and |
| (C) |
more than 30 days have elapsed since the date of death of the decedent. |
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| (5) |
Benefits paid under this section shall be:
| (a) |
a full satisfaction and discharge of all claims for benefits under this title; and |
| (b) |
payable by reason of the death of the decedent. |
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Amended by Chapter 24, 2020 General Session
