Changing Beneficiaries in Workday


Purpose

This document explains how to designate or change beneficiaries for Basic Life Insurance, Supplemental Life Insurance, and/or Personal Accident Insurance in Workday.

Not what you are looking for? Use the button below to visit our Library and find the information you need!

Library of Workday Knowledge Base Articles

Keep in Mind

· To designate or change beneficiaries for Retirement plans, log into your TIAA account.

· To designate or change beneficiaries for Permanent Life Insurance with Long-Term Care plans, log into your Trustmark account.

· Once you initiate the Change Benefits process in Workday you have 7 days to complete your beneficiary change. After 7 days, you will need to re-initiate the process.

· You must provide social security numbers, dates of birth, and addresses for individuals that will be added as a beneficiary.

· For more Benefit Plan information, please visit the HR Benefits webpage.

Steps

1. Log into Workday using your CNET ID and password.

2. Click Menu in the top-left corner and select the Benefits application.

3. Under Change select Benefits.

     a. Do NOT select Beneficiaries or Dependents.

4. A Change Benefits window will appear; select the Change Reason dropdown menu and choose Beneficiary Change.

5. Enter the Effective Date by typing in the prompt box or using the calendar icon.

a. This can be today’s date or a future date.

6. The fields labeled Submit Elections By and Benefits Offered will automatically populate based on the information you select for the Change Reason field and for the Effective Date of Change field.

7. Select Submit. (Do not submit any documents under the Attachments section.)

8. Up next you must complete a new Change Benefit Elections task which will appear as a breadcrumb at the top of the page or can be located in your Workday inbox.

a. To access the task by breadcrumb, select the Open button within the breadcrumb and click Let’s Get Started.

b. To access the task by Workday inbox, select the email with a subject line of Benefit Change – Beneficiary Change and click Let’s Get Started.

9. Your current and available insurance elections (Basic and Supplemental Life Insurance, Personal Accident Insurance) will display. To change or designate beneficiaries, click Enroll (if you didn’t select a contribution during initial/annual enrollment) or Manage (if you did select a contribution amount) under the insurance plan you want to change beneficiaries.

10. The Insurance Plan will be selected with no option to Select or Waive. Click Confirm and Continue to modify beneficiaries.

11. A new window will populate. Under Beneficiaries, you can add Primary Beneficiaries or Secondary Beneficiaries. To do so select the Plus-Sign icon in the top-left corner of the primary or secondary section, whichever is applicable.

a. In the new row, click on the Hamburger Menu (the icon with three dots and three dashes) under Beneficiary and select either Existing Beneficiary Persons, Existing Trusts, or Add New Beneficiary or Trust.

i. Existing Beneficiary Persons will provide a list of available beneficiary persons.

1. Click on the hamburger menu and select Existing Beneficiary Persons to choose from the list of available people. Click on the person’s name to select them.

ii. Existing Trusts will provide a list of available beneficiary trusts.

1. Click on the hamburger menu and select Existing Trusts to choose from the list of available trusts. Click on the Trust’s name to select them.

iii. Add New Beneficiary or Trust will allow for the creation of a new beneficiary or trust.

1. Add New Beneficiary

· For Relationship, click the hamburger menu to select the Relationship type.

· Use as Beneficiary will automatically be selected (no action needed).

· Date of Birth and Gender are not required fields but should be input if applicable. Age will automatically fill once Date of Birth is added.

· On the Legal Name tab, input the First Name and Last Name of the beneficiary. The Country will default to United States of America and should not be changed.

· On the Contact Information tab, under the Address section click the Add button and enter the address information of the beneficiary, including Type. If the beneficiary has the same address you do, you can click the hamburger menu in the Use Existing Address field and select your address instead.

2. Add New Trust

· Enter the Trust Name. Trust ID and Trust Date are not required fields but should be input if applicable.

· Under the Trustee Contact Information, enter the First Name and Last Name of the Trustee. If there is more than one Trustee, click Add to input additional names.

· Under Address click Add to enter the address information of the beneficiary, including Type. If the beneficiary has the same address you do, you can click the hamburger menu in the Use Existing Address field and select your address instead.

b. After all beneficiaries have been added you must input the Percentage allocation for each beneficiary under Primary Beneficiaries and Secondary Beneficiaries. You may add as many beneficiary persons or trusts as you wish, but the sum of Percentages must be equal to 100% for both Primary and Secondary Beneficiaries.

c. Select Save.

12. Once you’re ready to submit your changes select Review and Sign.

13. A View Summary page will appear with a review of the changes you’ve made. Review your Selected Benefits and their Beneficiaries for accuracy.

14. Checkmark the box that states I Accept and select Submit.

15. A new window will appear where you can either select Done to close out of the business process or you can select View (Year) Benefits Statement to print a copy of your benefit elections.

     a. If you are printing your elections, select Print and then (once your document is exported) further select Download to view a PDF version of this information.