Changes and Life Events

Managing Changes and Life Events

You and your family may experience life events that affect your SERS retirement account. Events such as marriage, birth or adoption of a child, divorce, and death should be reported to SERS in order to make necessary adjustments to your account.

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Section 1

Death Benefits

Lump-Sum Death Benefit

A $1,000 lump-sum death benefit is paid to your designated beneficiary upon your death. If you have multiple beneficiaries, the benefit will be distributed equally among them.

By law, if you do not designate a beneficiary, payment is made according to statutory succession. Payment is issued only after SERS receives a death certificate and any required documentation.

If the beneficiary designated by you at retirement dies first, you should select a new beneficiary. Contact SERS at 1-800-878-5853 to request a Beneficiary Designation form. This form must be signed by the retiree. A power of attorney (POA) cannot sign on behalf of the retiree.

Refund of a Deceased Member's Contributions

If you die early in retirement before recovering the employee contributions you made while working, and you selected Plan B (Single Life Allowance), a refund is due.

Any remaining employee contributions would be paid to your designated beneficiary or estate.

Section 2

Divorce

Support Orders

If you are subject to a court order requiring support payments for a spouse, former spouse, or children, the court can order SERS to withhold funds from your pension payments.

Regardless of the number of support orders received or the total amount ordered to be paid, the combined amount withheld from your pension cannot exceed 50% of your original payment amount.

Division of Property Orders

Your pension payments, including any Partial Lump Sum Option Payment (PLOP), can be subject to an Ohio Division of Property Order (DOPO). A DOPO requires a portion of your pension to be paid to a former spouse as part of the division of marital property.

Important considerations include:

Your former spouse cannot receive payment until your pension payments begin
Payments to your former spouse are made in the same form you receive (monthly or lump sum)
Payments stop when your pension payments stop
Regardless of the number of DOPOs SERS receives, the total amount withheld cannot exceed 50% of your original pension amount

If you are going through a divorce, you should discuss these matters with your attorney.

Division of Property Order Domestic Relations Guide

Section 3

Pop-Up/Pop-Down Features

Pop-Up

If you selected Plan A, C, or D, and your beneficiary dies before you, your pension will be adjusted to a Single Life Allowance (Plan B). This adjustment is called a “Pop-Up.”

If you selected Plan F, for multiple beneficiaries, your pension will be adjusted if one or more of the beneficiaries dies before you do.

Pop-Ups apply only to Plans A, C, D, and F. Plan E does not allow the Pop-Up option as it has a guaranteed payment period.

Divorce or Dissolution

If you selected Plan A, C, D, or F for your spouse, and you later divorce, or your marriage is either dissolved or annulled, your plan may be adjusted only with the written consent of your former spouse or by an order of the court.

Division of Property Order Domestic Relations Guide

Marriage or Remarriage

If you marry or remarry after retirement, you may re-select a joint survivor plan for your new spouse. This is called a “Pop-Down,” and it must be completed within one year of your date of marriage.

If you are married, it is important to discuss your payment plan choice with your spouse. Upon your death, benefits stop unless you selected a Joint Survivor Allowance under Plans A, C, D, or F. Plan E benefits continue only for the duration of the guaranteed period.

Resources

For more information on Pop-Up and Pop-Down features, please contact SERS.

Section 4

Marriage

Marriage After Retirement

If you selected Plan B (Single Life Allowance) at retirement and later marry or remarry, you may change your plan of payment to provide a benefit for your new spouse.

This applies if you:

Were single at retirement and plan to marry, or
Remarried after retirement

Any change must be made within one year of the date of marriage.

Available Plan Options

Plan A Joint Life: One-Half to Spouse

Provides a lifetime benefit to your spouse equal to half of your monthly pension after your death.

Plan C Joint Life: Designated Amount to Beneficiary

Allows you to designate a specific dollar amount or percentage to be paid to your beneficiary for life.

The designated amount cannot exceed your pension amount
If a dollar amount is selected, the minimum must be $100 a month
Federal tax law may require a different minimum

Plan D Joint Life: Same Amount to Beneficiary

Pays your beneficiary the same monthly amount you were receiving at the time of death.

Due to federal tax law, if there is too great a difference in ages between you and your beneficiary other than your spouse, this plan may not be available.

Plan F Joint Life: Multiple Beneficiaries

Allows up to four beneficiaries to receive monthly benefits upon your death.

Please note:

Each additional beneficiary named reduces your own pension amount
You must designate either a percentage or flat dollar amount for each beneficiary
The amount designated cannot be less than 10% unless required by a court order
The amount for all beneficiaries cannot exceed 100%.

If a court order requires you to provide a benefit to a former spouse, a copy of the order must be submitted to SERS.

If you select this plan, you will receive a separate beneficiary designation form. The form must be completed and received by SERS before benefits can be paid.

Important Reminder Submit your plan change within one year

You must submit your plan change within one year of the date of marriage.

Important Reminder

You must submit your plan change within one year of the date of marriage.

Personal Information Change Form

Section 5

Death of a Beneficiary

If you selected Plan A, C, D, or F and your beneficiary dies before you, your plan may be adjusted to Plan B (Single Life Allowance).

If you selected Plan F and one or more beneficiaries dies before you, your pension will be recalculated based on the remaining beneficiaries.

Contact

Please contact SERS to discuss your options.

Section 6

Birth/Adoption of a Child

If a child is born or adopted after your retirement, please contact SERS to discuss the options available.

Section 7

Advance Care Resources

What is end-of-life planning?

According to the National Institute on Aging, end-of-life planning may include making choices about the following:

Pain and symptom management
Advance care planning and directives
Effective, accessible treatments
Strategies that will increase quality of life
Palliative and hospice care
Where you wish to spend your final days

Strategies that will increase quality of life for you and those you care for, where you wish to spend your final days, and who you want to spend that time with.

Section 8