For IPERS Beneficiaries
Important Information About
IPERS Death Benefits |
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Eligibility for Death Benefits
The IPERS beneficiary designation will supersede many legal documents such as wills or assignments. A beneficiary designation generally will be revoked by a divorce decree, unless the beneficiary designation is implemented by a Qualified Domestic Relations Order (QDRO). If a member has a QDRO on file with IPERS that requires death benefits to be divided, death benefits will be paid according to the QDRO. (See the brochure "Divorce and IPERS Benefits" for more information about QDROs.)
If there is no valid beneficiary designation on file, benefits will be paid in the following order to the member's:
- Estate; or if none,
- Spouse; or if none,
- Child(ren) (divided equally); or if none,
- Parents; or if none,
- Siblings (divided equally).
If you are both an IPERS member and a beneficiary, you may receive IPERS pension and death benefits at the same time.
Payments to Minors
If the designated beneficiary is a minor, death benefits must be paid to a custodian or conservator. If the death benefit amount is:
- Less than $25,000, payment may be made to the minor's adult custodian.
- $25,000 or more, the benefit must be paid to a court-
established conservator.
If the minor will reach age 18 before the filing deadline, the minor may wait until he or she reaches age 18 to apply for benefits. Be sure to contact IPERS as soon as possible to ensure that benefits are claimed within the required time period to avoid forfeiture of death benefits.
When to File a Claim
Claims for death benefits should be filed as soon as possible after the member's death. The required filing date is set by the IRS and may vary according to your situation. If a claim for death benefits is not made by the required filing date, death benefits may be forfeited. If there is more than one designated beneficiary and some beneficiaries apply for death benefits within the required timeframe and others do not, any unclaimed benefits will be paid pro rata to those who filed timely claims. Contact IPERS to find out your required filing date.
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