How to name beneficiaries and fund a trust at CalPERS

A named beneficiary receives only the lump-sum death benefits: before retirement, the Basic or Limited Death Benefit and any Group Term Life Insurance; after retirement, the Retired Death Benefit, the Return of Remaining Contributions and the Temporary Annuity Balance.¹

Continuing monthly allowances (the 1957 and 1959 Survivor Benefits, Pre-Retirement Option 2W, Special Death, Alternate Death and Survivor Continuance) are set by law and not created by naming a beneficiary. The Special Death Benefit can take precedence over a designation on file.¹

A continuing monthly benefit to a person you choose comes only from the retirement payment option elected at retirement (Option 1, 2, 2W, 3, 3W or 4), not from the beneficiary form.²

A trust can be named to receive the lump-sum death benefits. CalPERS cannot pay a trust without a trust tax identification number.¹

A continuing monthly survivor allowance cannot be directed to a trust. Those allowances are paid to individuals who qualify under statute or under the retirement payment option elected at retirement.¹

An estate can be named. CalPERS pays the estate only if it is probated, and cannot pay a probated estate without an estate tax identification number.¹

A married or partnered member who names someone other than the spouse or registered domestic partner needs that person's signature on the form. If they do not sign, the member submits the Justification for Absence of Spouse's or Registered Domestic Partner's Signature form.³

Where the spouse or partner does not consent, CalPERS awards 50 percent of the community property share of the group term life insurance benefit, the employer share benefit and the return of remaining member contributions to the spouse or partner, and the remainder to the named beneficiary.¹

A form with erasures or corrections cannot be processed.¹

For pensions. Completed by an active or inactive member. Available to download.⁴

Return to

For pensions. Completed by a retired member. Available to download.⁵

Return to

For pensions. Completed by a beneficiary or survivor already receiving an ongoing allowance. Available to download.⁶

For pensions. Completed by a married or partnered member whose spouse or partner does not sign. Available to download.³

A lump-sum beneficiary designation is automatically revoked by marriage, registration of a domestic partnership, the start of a dissolution or annulment of a marriage or termination of a domestic partnership, the birth or adoption of a child, or a refund of contributions.¹

A designation filed after one of those legal processes has started is not revoked when it is finalized.¹

When a married or partnered member names someone else online, the change takes effect when the spousal acknowledgment CalPERS prompts for is received, not immediately.⁷

Only designations made after August 5, 2013 are viewable in myCalPERS. An earlier paper designation may still be valid but does not appear online.⁷

For pensions. Completed by a living retiree. Available to download.⁸

For pensions. Completed by every currently acting trustee. Available to download.⁹

Sent by the institution on request.⁸

Completed by the trustee. Sent by the institution on request.⁸

A CalPERS pension cannot be retitled into a revocable living trust. There is no account to re-register in a trustee's name.⁸

Having a living retiree's monthly allowance paid to a trust directs payment; it does not transfer ownership of the pension.⁸

CalPERS cannot make payment to a trust or probated estate without a trust or estate tax identification number.⁸

When a successor trustee takes over, the Certification of Trust and Request for Continued Payment of Monthly Allowance to a Trust is filed with the signature of every currently acting trustee.⁹