A $1,000 lump-sum death benefit will be paid to your designated beneficiary upon your death. If you have multiple beneficiaries, this will be distributed equally among them. By law, if you do not designate a beneficiary, statutory succession will apply. Payment will be made only upon receipt of a death certificate and evidence of qualification, as required by SERS.
If the beneficiary designated by you at retirement dies first, you should select a new beneficiary. Please contact our office at 800-878-5853 to request a Beneficiary Designation form. This form must be signed. A POA cannot sign a beneficiary designation form on behalf of the retiree.
Refund of Deceased Member’s Contributions
If you die early in retirement before recovering the employee contributions you made to SERS while you were working, and you selected Plan B (Single Life Allowance), a refund is due. In this case, whatever remains of the employee contributions would be paid to your designated beneficiary or estate.