When a retiree dies, what benefits may be payable?
Three types of Qualified Pension Plan (QPP) benefits may be payable after the death of a TRS retiree: A one-time lump-sum amount (Death Benefit #2) if the member was in Tier II, III, IV, or VI; a continuing monthly benefit based on the retirement payment option chosen by the member; and a fractional payment representing a portion of the retirement allowance payment for the month in which the member died (as long as the death did not occur on the last day of the month).
For more information, please see the Guide to Death Benefits for Beneficiaries of Retired Members and the If the member participated in TRS’ Tax-Deferred Annuity (TDA) Program, what TDA benefits may be payable? FAQ below.