Special 20- and 25-Year Plans

For PFRS Tier 2, 3 (Article 11), 5 and 6 Members, (Sections 384, 384-d and 384-e)

Alternative and Out-of-Service Death Benefits

Special 20- and 25-Year Plans
For PFRS Tier 2, 3 (Article 11), 5 and 6 Members
(Sections 384, 384-d and 384-e)

Alternative Death Benefit

If you die in service after you are eligible to retire, an alternative death benefit may be payable. This benefit would equal the pension reserve that would have been established under the plan (Section 384-d, Section 384 or Section 384-e) had you retired on your date of death. “Pension reserve” is an actuarial term for the value of your retirement benefit at the time of retirement.

Out-of-Service Death Benefit

If you are a vested member with at least ten years of credited service, but you have not yet retired, and you die less than one year after leaving public employment, your beneficiary would receive 100 percent of your ordinary death benefit, unless you were otherwise gainfully employed. If you die within one year of leaving your public employer, but were gainfully employed during that time, or if you die more than one year after leaving public employment, your beneficiary may be entitled to 50 percent of the ordinary death benefit.