Death Benefit Plan

If you are a state agency employee with at least 10 years of ERS service credit, a Death Benefit Plan (DBP) enables you to choose someone to receive your retirement benefits if you die before you retire under ERS. The benefit is based on your salary and service.

The DBP also lets you choose how your beneficiary will receive the benefit.  You can choose one of four options, shown below:

  • Beneficiary's choice – Your beneficiary can choose a life annuity, lump sum payment, or 10-year guaranteed annuity.
  • Life annuity – Your beneficiary receives a monthly annuity check for the rest of his/her life.
  • Lump sum payment – Your beneficiary receives a refund of your retirement contributions in a lump sum payment, minus applicable taxes.
  • 10-year guaranteed annuity – Your beneficiary is paid an annuity once a month for 10 years.  This amount will likely be different from the lifetime annuity amount.

Note: The Death Benefit Plan is for employees who contribute to the ERS retirement fund.