If you are actively enrolled in the Death and Disability Plan upon retirement

During the three years immediately following the date of your retirement, death benefits are gradually reduced until they reach the Plan's minimum of $8,000. After three years of retirement, a single lump sum payment of $8,000 is payable to your beneficiaries upon your death.

You may contact the Board at 800-773-7752 (800-PRESPLAN) to request an estimate of the death benefits payable to your beneficiaries during the first three years of retirement.

If you are not actively enrolled in the Death and Disability Plan upon retirement

Your beneficiaries may be eligible for a single lump sum payment of $8,000 payable upon your death if you meet one of the following criteria:

• You began receiving a retirement pension benefit prior to January 1, 2007.
• Upon your retirement, you met the Rule of 70.

All death benefits are subject to final audit.

Naming a Beneficiary

You can name anyone as your beneficiary. If you do not designate a beneficiary, the Board will pay this benefit in equal shares to the first of these eligible survivors:

1. your spouse (provided the marriage took place at least 12 months before your death)
2. your unmarried dependent children under age 21 (including unmarried permanently disabled children age 21 or over) who were dependent on you during the 12 months immediately preceding and on your date of death
3. your children, regardless of dependency or age
4. your estate

Requirements of the Rule of 70

• You must be age 55 or older when you terminate service.
• You must have at least five years of Benefits Plan participation.
• The sum of your age and years of Benefits Plan participation at termination must equal 70 or more.