A beneficiary is a person designated by an employee or retiree to receive the proceeds of the individual's 401(k), life insurance or pension following the individual's death.

To designate a beneficiary for your 401(k):

You may designate a beneficiary for your 401(k) online at www.401k.com. To access the beneficiary information, log into NetBenefits, click on "Your Profile" and select "Beneficiaries."

To designate a beneficiary for your life insurance:

You may designate a beneficiary for your life insurance using the Travelers Online Beneficiary Designation tool. You can elect, review and update your beneficiaries at any time. To name a beneficiary, go to HR Self Service*, select "Benefits" and then select "Beneficiary Online."

> Basic Life/AD&D: You can name anyone that you want as a beneficiary for this benefit.

> Optional Life/AD&D: Your Optional Life/AD&D beneficiary is the same as the beneficiary you name for the Basic Life/AD&D plan.

> Spouse Life/AD&D: You are automatically the beneficiary for this benefit. No other beneficiary designation is required or allowed.

> Child Life: You are automatically the beneficiary for this benefit. No other beneficiary designation is required or allowed.

To designate a beneficiary for your pension:

You may designate a beneficiary for the pension plan online through the Travelers Online Beneficiary Designation tool. You can elect, review and update your beneficiaries at any time. To name a beneficiary, go to HR Self Service*, select "Benefits" and then select "Beneficiary Online."

Employees may name any beneficiary (subject to spousal consent rules if they are married) for the following plans: Travelers Cash Balance, St. Paul Travelers Cash Balance, Citigroup Cash Balance, Primerica, legacy St. Paul Traditional and USF&G.
Employees may only name their spouse or domestic partner as beneficiary for the following plans: Grandfathered TIC, TIC Cash Balance and Associates. If there is no spouse or domestic partner when the person dies, the benefit is forfeited and the money stays in the plan.

Participants who were USF&G only (i.e., terminated their employment at USF&G prior to 1/1/1999) may only list a spouse as beneficiary.

Note: Any prior hard copy beneficiary designations that you made for your life and pension plan benefits were not loaded into the new online tool. Therefore, the first time that you use the tool, your beneficiary designations will be blank. The information you enter in the online tool for the Life and/or Pension plan will be your new beneficiary designation of record. All prior beneficiary designations for these plans, whether hard copy or online, will be revoked. In the event of your death, the individual(s), trust(s), organization(s) or estate last named as your beneficiary will be in effect.

If you have questions regarding the Beneficiary Online Designation process, please contact the Employee Services Unit (ESU) at 4-ESU@travelers.com or 800.441.4378.

 

* This link is accessible only to employees logged into Travelers secure network.