If you die before you retire with PEERS, your beneficiaries may be eligible for survivor benefits. It is important to properly designate your beneficiaries so they are eligible for monthly survivor benefits.
New members can designate a beneficiary online within the first 18 months of their membership by logging into Web Member Services. For security reasons, any changes made after that time must be made by submitting a PEERS Pre-Retirement Beneficiary Designation Form.
Two types of survivor benefits are provided for beneficiaries of members who die before retirement or while receiving PEERS disability retirement benefits.
Types of PEERS Survivor Benefits
- Your total contributions and interest as of the date of your death
- Includes your contributions, payments for reinstatements and service purchases, and interest
- Does not include employer contributions
- A one-time, lump-sum refund
- Split if you have multiple beneficiaries
- The Joint-and-Survivor 100% benefit given your salaries and service at the time of your death
- Eligible for cost-of-living adjustments (COLAs)
- Monthly for your beneficiary's lifetime
- Payable immediately if you are eligible to retire, or delayed until you would have become eligible to retire based on your years of service at the time of your death
You might also be interested in ...
- A PEERS Pre-Retirement Nomination of Beneficiary Form
- Viewing your current beneficiary designation
- The PEERS Protecting Those You Care About brochure