What happens to an alternate payees share of a retirement benefit if the alternate payee predeceases the retired member?
Payments of an alternate payee’s share of a retirement benefit cease upon the alternate payee’s death. Following the death of the alternate payee, the entire retirement benefit is thereafter paid to the retiree. An alternate payee has no right to designate a beneficiary for her share of the retirement benefits. If the alternate payee had been designated the beneficiary of a joint and survivor benefit at retirement, no payments are made following the death of the retired member. On the other hand, if the alternate payee had been designated the beneficiary of a guaranteed or lump sum option, the retired member may designate another beneficiary or other beneficiaries to receive any payment, if any, is made upon the subsequent death of the retired member.
Related Questions
- Can a QDRO under a defined benefit pension plan provide the alternate payee with "interest and investment earnings" on his/her assigned share of the benefits?
- What happens to an alternate payees share of a retirement benefit if the retired member predeceases the alternate payee?
- What happens to an alternate payees share of a retirement benefit if the alternate payee predeceases the retired member?
