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Lump-sum Death Benefit
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Lump-sum Death Benefit - Slide 46

Lump-sum Death Benefit

Text Version:

Lump-sum Death Benefit

  • Payable only if no survivor immediately eligible for annuity
  • 10 years of service, or 5 years after 1995, and current connection required
    • If less than 10 years, must also meet social security insured status requirements
  • In most cases, payable only to widow(er) living in same household--$255

Notes:

  • If monthly benefits immediately payable--no lump-sum benefit can be paid.
  • If employee had at least 10 years of service on December 31, 1974, payable to living-with widow(er) or payer of funeral expenses--$960 average.
  • Unlike social security, not payable if annuity payable.
  • The $255 amount same as under social security.

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Date posted: 08/20/2008
Date updated: 08/15/2008