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Death, survivor and reversionary benefit options under SERS explained
Summary
Presenter explained death and survivor benefits for active and retired members, eligible survivor definitions, lump‑sum payments, monthly annuity percentages, and the reversionary election with examples showing how different reversionary percentages reduce retiree pensions and create survivor incomes.
The presenter described death benefits for active members and retirees, defining who qualifies as an eligible survivor (spouse/civil union partner of at least one year, minor children, full‑time students under 22, disabled child, dependent parent). For active members with qualifying survivors he said there is a $1,000 one‑time lump…
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