Tax Advantage Accounts
Life Events FAQs
Defined Benefit Plans
A life event change, also referred to as status changes and qualified life events, allow you to make changes to your benefits during the plan year. Depending on the life event, you may need to add or remove a dependent from your benefit plans. While the birth of a child provides a 60 day window to complete your life event change, all other changes need to be done within 31 days of the event date. All life events are completed in Dayforce through a two-step process.
Learn about Life Events
What Events are Considered Life Event Changes?
Understanding the 2-Step Life Event Process in Dayforce
Death/Loss of Dependent
Dependent Turning Age 26
Spouse Change Coverage
Leave of Absence
Many of your Farm Credit benefits allow you to designate beneficiaries, including your HSA, 401k plan, and Life Insurance policies. By designating a beneficiary, you are certifying that your benefit is being inherited by the party of your choice. Keep in mind that beneficiary designations are not completed or kept in Dayforce; you will need to make beneficiary designations directly with the vendor in charge of the benefit.
Learn about Beneficiary Designations
Estate Planning Basics