CERF Pension Plan
Direct Rollovers
Your surviving spouse may elect to have the entire taxable amount,
or only a portion, of his or her lump-sum death benefit rolled over
to an eligible retirement plan in order to avoid having 20% federal
taxes withheld.
If your beneficiary is someone other than a spouse, the death
benefit is eligible for a rollover, or the beneficiary may
choose whether or not to have 10% federal taxes withheld from the
payment. Monthly annuity payments are not eligible for rollover. |
