Survivor Benefits - Lump-Sum Payment of Contributions and Interest
If you die before you retire with PEERS or while receiving PEERS disability benefits, your designated beneficiary has the right to a lump-sum refund of your contributions and interest.
- The lump-sum refund consists of your contributions, any payments made to reinstate and purchase service, and the interest earned as of the date of your death.
- Employer contributions are not included in a lump-sum refund.
- No other survivor benefit is paid if a lump-sum refund is made.
Your named beneficiary may be an individual, multiple individuals, a trust, your estate or any other legal entity(ies). If you name multiple individuals, payment will be split equally unless you specify otherwise.