Is your beneficiary up to date? [1994]

insurance and retirement system benefits? No. Everything must be paid to his divorced wife because George didn't update his beneficiaries.
Your selection of a benef iciary can be very important shou ld something happen to you. Your family could suffer extreme hardship if you don't keep this selection up to date.
YOUR CHOICES
You may change your beneficiary as often and as many times as you wish. You may name the same or different benef iciaries to receive your retirement system and life insurance benefits. The important thing is that you and only you can make these choices. By law, the last named living beneficiary on file with the Retirement System is the only one who is eligible for you r benefits.
Your personnel office and the Employees' Retirement System have forms for changing your beneficiary, both for retirement benefits and (if you are covered) for life insurance. Both also have brochures describing benefits under each of the programs.
BE SURE
It your beneficiary is up to date, you have nothing to worry about.
If not, now is the time to do something about it.
You are the only one who can.

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Is your BENEFICIARY
up to date?
Employees" Retirement System 254 Washington Street. S.W. Room 592
Atlanta, Georgia 30334 404/656-2960

UNIMPORTANT?
Is your beneficiary up to date? It may seem like an unimportant question. But it could be extremely important. Only you can answer it.
When you came to work for the State of Georgia, you were asked to name beneficiaries for your Retirement System contributions and (if applicable) your Group Term Life Insurance. Should you die while employed by the state, these named persons will receive benefits ranging from lump sum payments to a life-time monthly income, or both, depending on your length of service.
Your primary beneficiary would receive these benefits. As an added protection, you were asked to name a second, or contingent, beneficiary should your primary beneficiary not be living at the time of your death.
SO WHAT?
"So I named beneficiaries," you might ask, "what's all the fuss about their being up to date?"
Just this.
It may have been a long time since you completed those forms. Or even if only a short time, a lot of things could have happened since then.
Have you been married? Widowed? Divorced?

Have you had a child? Additional children?
Has one of your parents died? Or both?
YES ? A "yes" to any of these might mean that your selection of beneficiaries is not up to date with your wishes. Let's look at a couple of examples.
Fred came to work for the state as a young bachelor and named his mother as beneficiary for both his retirement contributions and life insurance. Several years later, Fred married and didn't think to change his beneficiaries. Shortly after the birth of his son, Fred was killed in an automobile accident.
Fred's benefits must, by law, be paid to his mother. His young widow, desperately needing the money to help raise their son, will not get a cent. Fred is the only one who could have prevented this and he is gone.
DIVORCEE COLLECTS
In another case, George named his wife as beneficiary when coming to work for the state. A short time later, they were divorced. George never thought of changing his beneficiaries. Eventually, he re-married and had a son and daughter. Some 15 years later, George died of a sudden illness. Do his wife and children receive his life