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Survivor benefits if you die before retirement

If you die before retirement and at the time of your death you have an eligible spouse, your spouse automatically receives the survivor benefits unless he or she has waived them. Your spouse may waive his or her entitlement to a survivor benefit by completing the applicable waiver, Spousal Waiver Pre-Retirement Death Benefit, available on our website. You may also designate beneficiaries to receive survivor benefits, in case you do not have an eligible spouse when you die or if your eligible spouse has waived his or her right to receive survivor benefits. You can update your beneficiaries by completing a Pension Beneficiaries form available on the website.

SURVIVOR BENEFITS

The following chart explains, under the current plan terms, who is eligible to receive the survivor benefit if you die before retirement and what the benefit is:

survivor benefits chart

IF NO ELIGIBLE SURVIVORS OR BENEFICIARIES

When a member does not have any eligible survivors, that is, there is no eligible spouse, eligible children or other beneficiary designated by the member, any funds that are payable from the Plan will be paid to the deceased member’s estate.

When death occurs

A termination package is sent to the eligible survivor or the executor of the deceased member’s estate. This personalized package provides details of any survivor benefits.

Notification of death

If you die while employed, your survivor should contact your employer who will contact OPTrust.