Once a year, it’s a good idea to review aspects of your benefits to make sure all your information is correct and you are taking advantage of the options available to you.
Review our three-part checklist to make sure you are up to date:
Retirement and death benefit beneficiaries
Take time to review your beneficiaries, particularly if you have recently experienced a major life event such as marriage, divorce, relocation, or a birth or death in the family. It is crucial that the retirement companies that maintain your benefits have correct information on your accounts. The forms and links to update many of these accounts can be found online. Alternately, you can set up an appointment with one of HR’s benefit specialists by calling the HR Call Center at 946-8847 or 888-444-8847. We would be happy to talk with you about relevant documents to consider.
Apart from insurance benefits, UT provides a benefit payment in the event of the death of a regular university employee in active pay status. To ensure that the benefit payment is received in full at the time of death, all employees should confirm that they have a completed designation of beneficiary form on file. It is the employee’s responsibility to ensure that the form is on file and the information on the form is correct. You can update your beneficiary at any time by completing and submitting an updated form to Human Resources.
Life insurance beneficiaries
As part of the State of Tennessee benefits, the university offers basic term life insurance for all insurance eligible employees; optional term life insurance through Minnesota Life; and, for currently participating employees, optional universal life insurance through UNUM. Your beneficiary designation determines who will receive your life insurance benefit. You may designate one or more primary beneficiaries and one or more contingent beneficiaries. If you do not designate beneficiaries, policy benefits will be paid in the following order: to your spouse, if living; if not, to your children, if living, in equal shares; if not, to your parents, if living, in equal shares; if not, to your estate.
To make or update your beneficiary designations for the basic term life insurance, complete a paper beneficiary form through the State of Tennessee.
To update your optional term life insurance beneficiary designation, log in to the LifeBenefits web portal using the letters TN + your Edison ID number as the user ID, and your eight-digit birthdate followed by the last four digits of your Social Security number as the password. You can also call Minnesota Life at 866-881-0631 to obtain the form.
To update your universal life insurance beneficiary designation, complete a customer service request form (L-52490), available from UNUM. You can call the UNUM Contact Center at 866-298-7636 for help with the form.
Sick Leave Bank
The Sick Leave Bank, or SLB, provides members experiencing a serious illness an opportunity to request additional paid leave time from the bank after exhausting all personal accrued leave. Members request paid time from the bank by completing a sick leave withdrawal request. The request is reviewed by trustees of the bank.
Members with an approved request are also eligible to receive paid time donations from other university employees. While the employee receiving the donated time must be a member of the SLB, the donating employee need not be a member.
An open enrollment period is offered each year from April 1 through June 30. To be eligible, you must be a regular UT employee, accruing sick leave, with a balance of at least forty-eight hours or six days (prorated for part-time employees) by the end of the enrollment period. Eligible employees can enroll by completing an application and agreeing to donate twenty-four hours (prorated for part-time employees) to the bank.
For additional information and enrollment forms, contact the HR Call Center at 865-946-8847 or 888-444-8847.