CERF Pension Plan
Death Benefit
In addition to providing you with retirement benefits, the CERF
Pension Plan also provides a death benefit to your beneficiary.
If you die while actively employed with the county and while a
participant in CERF, your beneficiary
will receive a $10,000 death benefit regardless of the length of
time you worked for the county. You may choose anyone as your
beneficiary. It is important to keep your beneficiary designation
form current. Copies of this form are available from your county
clerk’s office, the CERF Administrative Office, or the CERF Web
site (www.mocerf.org).
You may designate an entity, such as a charity, to receive this
benefit. You may also designate more than one beneficiary by
indicating the percentage you want each beneficiary to receive. If
you fail to specify the percentages, the benefit will be paid in
equal shares to your named beneficiaries.
If you do not designate a beneficiary, this benefit will be paid to
your surviving spouse. If you do not have a surviving spouse, the
benefit will be paid in equal shares to your children. If you do not
have surviving children, it will be paid to your estate.
Unlike a traditional life insurance policy, this is a cash benefit
that is paid by CERF. It is important to let your beneficiary know
that this is a taxable benefit. |
