FAQ: Retirement > MERS > Member

Retirement > MERS > Member > Pre Retirement Issues

21. May I change the beneficiary or optional payment plan I selected at any time during the retirement process or after retirement?

You can change your payment option, annuitant or beneficiary for a monthly survivor benefit or payment option at any time prior to cashing your first retirement check but no later than the 25th of the month following the month your first check is mailed. After this time, you will not be allowed to change your payment option for any reason including death or divorce. If you have chosen the 10 year or 20 year certain option benefit you may name a new contingent annuitant if your designated contingent annuitant has died (CMERS requires a certified copy of the death certificate). As a retiree, you can change your beneficiary for the guaranteed refund (if applicable) at any time by completing and submitting the proper form (CO-931 link) to CMERS.