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CalPERS explains differences between beneficiaries and survivors and preretirement benefits
Summary
The presentation clarified the distinction between beneficiaries and survivors under CalPERS rules, outlined the statutory order of beneficiary designation, and listed types of lump-sum and monthly pre-retirement benefits.
CalPERS clarified how preretirement death benefits work and distinguished between "beneficiaries" — whom a member designates — and "survivors," who are defined by law. Presenter Raquel Lozano said if no beneficiary designation is on file, CalPERS follows a statutory order starting with the spouse or domestic partner, then children, parents and so on.
Why it matters: The available death benefits and the persons eligible to receive them depend on membership classification, the employer’s contracted options and the member’s separation date, Lozano said; because many variables affect benefit availability, CalPERS cannot specify which benefits will be paid until it receives documentation after a member’s death.
Lozano listed common lump-sum benefits (limited death benefit, basic death benefit, group term life insurance) and monthly options (pre-retirement Option 2 with death benefit, the $19.57 survivor benefit, special and alternate death benefits, and the 1959 survivor benefit). She advised members to update beneficiary designations via myCalPERS or by submitting the pre-retirement lump-sum beneficiary designation form. The presentation referenced Publications 3, 4 and 5 for member-benefits details by membership category.
