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Retired Member Death Benefit

Basic Retiree Death Benefit:

A one time $5,000 lump sum death benefit is payable to the beneficiary of a retiree. This benefit is only paid upon the death of a retiree; it is not paid upon the death of a beneficiary. Your beneficiary designated to receive this benefit need not be the same as the person listed to receive a continuance.

This payment is in addition to the following:

  • The type of death benefits payable to the beneficiary of a retiree depend on the Option elected by the retiree at the time of retirement and the type of retirement granted. These benefits are described below:
     
    • Unmodified option: — Non-Service Connected Disability/Service Retirement
       
      • upon your death, your qualified spouse — if named as beneficiary, shall receive sixty percent (60%) of your monthly allowance; or
         
      • if no qualified spouse exists — named beneficiary receives lump sum refund of any remaining member contributions
         
    • Unmodified Option—Service Connected Disability
       
      • upon your death, your qualified spouse or eligible minor children*, if named as beneficiary, shall receive the 100% of your monthly retirement allowance.
         
      • if no qualified spouse or children exists — named beneficiary receives lump sum refund of any remaining member contributions
         

      *Allowances to minor children continue until the age of eighteen (18), if a full time student, the allowance will continue until age twenty-one (21) or until their marriage, whichever occurs first.
       

    • Unmodified Option — Temporary (Added) Annuity Option:
       
      • upon your death, your qualified surviving spouse or eligible child will receive sixty percent (60%) of the unmodified annuity allowance plus sixty percent (60%) of any cost of living increases you normally receive on your Added Annuity.
         
    • Option 1:
       
      • upon your death, your beneficiary will be eligible to receive the balance of your contributions that you have not received.
         
    • Option 2:
       
      • Upon your death, your named beneficiary will receive a lifetime retirement allowance equal to 100% of your retirement allowance
         
    • Option 3:
       
      • Upon your death, your named beneficiary will receive a lifetime retirement allowance equal to 50% of your retirement allowance.
         
    • Option 4:
       
      • Upon your death, your named beneficiary will receive a lifetime retirement allowance equal to the amount or percentage you specified at the time of your retirement.
         

Frequently Asked Questions (FAQs):

- Last Modified: 03 / 29 / 2004


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