|
What is a beneficiary?
- Any person designated from time to time before or after the approval of an application for retirement by the member in writing on forms prescribed by the Board of Trustees to receive benefits which continue to be payable upon the death of the member.
If I die while I am still employed, will my spouse/child receive a pension?
- In the event that the member passes away before being a member for 15 years, the beneficiary will receive a $5000 death benefit. If however, the member is vested, the beneficiary will begin receiving benefits on the day the member would have turned 55, or they may opt to receive early retirement at the point the member would have turned 50.
I want to make sure that my spouse/child will be receiving a benefit if I die while in service. What do I need to do?
- Go into the Member Area of the website and make sure that the information that we have for you is accurate. Also, ensure that your beneficiary is aware that, in the event that you predecease the beneficiary, the Fund will need an original death certificate or a certified copy of the death certificate.
If I die while receiving a pension benefit, will my beneficiary receive any benefit?
- The beneficiary will be paid according to the option you chose when filling out the form. If you do not remember the option you chose, you may look in the Members Area section to find the information or call us as listed in the Contact Us.
What happens with my pension when I die if I am not married and have no children?
- You can name a beneficiary for the 10 year certain and life option.
How can I change my beneficiary?
- You may fill out a change in beneficiary form, have it notarized and mail it to our office. The address is in the Contact Us section. The beneficiary may be changed pre or post-retirement.
If I do not designate a beneficiary will the money automatically go to my spouse or children?
- You have to designate a beneficiary before membership into the Fund is approved. If you have not selected an option, please refer to OCGA 47-7-100 (h) (1) (2) (Class 1-8) and 47-7A-100 (g) (1) (2) (Class 9) to determine where the money will go.
What should I do if I want to leave my death benefit to my estate or to a trust?
- Write estate or trust in the beneficiary area.
|
|
