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Plan Provisions - Survivor Benefits
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Before Retirement
If you die while you are an active employee but before you are vested, your Beneficiary will receive a death benefit equal to one times your annual earnings, plus a refund of your accumulated contributions plus interest. The death benefit related to your annual earnings will be payable in equal monthly installments for 48 months. The refund of your contributions plus interest will be paid in a single lump sum immediately upon proof of death. If you are an Elected Official or Appointee, your Beneficiary is not entitled to a refund of the contributions made by the City on your behalf. (See Vested section above)
If you die while you are an active employee after you are vested, your Beneficiary will receive a monthly benefit for 10 years as though you had retired on your date of death and had elected to receive your benefit under Option 2, 10 Year Certain and Life (see Forms of Benefits Payable). Your Beneficiary will receive this benefit whether or not you were eligible for early or normal retirement benefits at the time of your death. Your Beneficiary’s monthly benefit will be eligible for cost of living adjustments as described in detail in the Cost of Living Adjustment section of in this document.
After Retirement
If you were receiving an optional form of retirement payment which provided for a survivor’s benefit to be paid after your death, your Beneficiary will receive payments following your death in accordance with that option. Your Beneficiary’s monthly benefit will be eligible for cost of living adjustments as described in detail in the Cost of Living Adjustment section of in this document.
CLAIMING A SURVIVOR BENEFIT
You should notify your Beneficiary(s) that they should immediately contact the Executive Director in the event of your death. Your Beneficiary(s) must present a certified copy of your death certificate and must apply in writing for survivor benefits. All benefits payable to you cease upon your death.
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Cost of Living Adjustment
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