Qualified Pension Plan (QPP) beneficiaries may annuitize a QPP benefit only if the deceased was a Tier I or Tier II member and the QPP benefit is at least $10,000. Eligible beneficiaries of Tier I members must file to annuitize their death benefit by October 31 of the year following the year of the member's death; beneficiaries of Tier II members must file to annuitize their death benefit within 90 days from the date of the member's death.

All Tax-Deferred Annuity (TDA) Program beneficiaries may annuitize a TDA benefit of $10,000 or more. In all cases, before an annuity can be calculated for a beneficiary, (s)he must submit a photocopy of his/her birth certificate to TRS.

There are two ways of annuitizing a death benefit:

Option A, in which the amount would be paid in monthly installments during the beneficiary's lifetime, with all payments ceasing upon his/her death.

Option B, in which the amount of the annuity is slightly reduced, so that any remaining reserves after the beneficiary's death would be payable to a designated beneficiary or estate. Please note that any benefits due the member's estate cannot be annuitized.