KNOWLEDGE Builders WORKDAY: ADDING BENEFICIARIES/BENEFICIARY CHANGES In the case of your death, your life and accidental death & dismemberment policy is payable to the beneficiary(ies) that you designate. A beneficiary can be an individual or a trust. You can choose primary beneficiaries and contingent beneficiaries. Your primary beneficiaries receive benefits when you die. If no primary beneficiary is living, the benefits become payable to your contingent beneficiaries. Follow the steps below to add beneficiary(ies) or make changes to your existing beneficiary(ies). Try It Out Follow the steps below to create your Beneficiary and then to assign the Beneficiary to your insurance plans in Workday: 1. In Workday, click Benefits. 2. Click Beneficiaries under the Change column.
3. Click Add to add your beneficiaries. 4. You have three options regarding the type of beneficiary you are creating: add a beneficiary who is an Existing Dependent or Contact, a New Person as a Beneficiary or a New Trust as a Beneficiary. NOTE: Selecting Existing Dependent or Contact or New Person as a Beneficiary are the most commonly used choices. See the Learn More section to find out more about entering a New Trust as a Beneficiary (follow steps 26 through 33 at the end of this Knowledge Builder). Select the option that reflects the beneficiary you are creating. If you select Existing Dependent or Contact, place your cursor in the search field and press enter. Your existing dependents or emergency contact that is already in Workday will appear. Select the hyperlink to the individual name you want to add as a beneficiary. NOTE: A name may appear more than once if they are both your emergency contact and your dependent. 5. Click OK 6. Follow the prompts on the screen and ensure that you enter the required information (marked with a red asterisk *). 2017.07.10 Rev 1 2
When adding a Beneficiary using the New Person as a Beneficiary option, an address is a required field and can be found under the Contact Information tab. Navigate to the Contact Information tab, click Add to enter the required information. 7. Click Submit once all information is entered. 8. Click Done 9. You will get a screen verifying the information you just completed. Repeat steps 4 through 8 until all your beneficiaries are created. 2017.07.10 Rev 1 3
10. To attach the beneficiaries to your benefits, go back to your home page by clicking Rochester Regional Health at the top of the screen. 11. Click Benefits. 12. Click Benefits under the Change column. 13. Select Beneficiary Change from the Benefit Event Type drop down menu. 14. In the Benefit Event Date field, type today s date as the effective date for the change. 2017.07.10 Rev 1 4
15. Click Submit. 16. Click Open. 2017.07.10 Rev 1 5
17. You will see listing of the Insurance benefits that you are enrolled in. Click "Continue" 18. To add a beneficiary, click the + button to the left of the Beneficiary column. 19. Click the prompt on the right hand side of the field, select Beneficiary Persons and choose the beneficiary s name from the drop down list. 2017.07.10 Rev 1 6
20. If the beneficiary is not yet listed, click Create > and follow the prompts to add the beneficiary s information. 2017.07.10 Rev 1 7
21. To remove a beneficiary, click the - next to the individual s name. 22. You may list different beneficiaries for Supplemental Life Insurance and Accidental Death & Dismemberment, but it is not required. At minimum, supply beneficiary information for the Basic/Core Life Insurance coverage provided to you. 23. You can designate a combination of primary beneficiaries and contingent beneficiaries. In the event of your death, benefits would be payable to your primary beneficiary. If no primary beneficiary is living at that time, benefits would be payable to your contingent beneficiaries. Assign a percentage amount to each beneficiary. The percent allocation for primary and contingent categories must each total 100%. 24. Click continue to proceed. Remember You can choose primary beneficiaries and contingent beneficiaries. Your primary beneficiaries receive benefits at the time of your death. If no primary beneficiary is living, the benefits become payable to your contingent beneficiaries. 2017.07.10 Rev 1 8
25. Review your benefits and beneficiary(ies). To make changes to your elections, click Go Back. If you need more time to enter your beneficiary(ies), click Save for Later and the changes you have made will be saved. Your beneficiary(ies) will not be finalized until you submit them. When you are satisfied with your entry, scroll to the bottom of the page, review the Electronic Signature and check the box next to I Agree. Next click Submit. 26. Click Print for a copy of your Confirmation Statement or click Done to close the screen without printing. 2017.07.10 Rev 1 9
Learn More Follow the steps below to add a Trust a beneficiary. 27. To add a Trust as a Beneficiary in Workday, click Benefits. 28. Click Beneficiaries under the Change column. 29. Click Add to add your beneficiaries. 2017.07.10 Rev 1 10
30. Select New Trust as Beneficiary and click OK. 31. Enter the required information (marked with an asterisk). 32. You can add additional Trustees by clicking Add. 33. Click Submit once you have entered the required information. Click Done on next screen. 34. Follow steps 9 through 25 to attach your beneficiaries to your benefits. 2017.07.10 Rev 1 11