Upon death of a retired member, unless an optional benefit was elected, a lump-sum is paid to the beneficiary.
The lump-sum consists of the difference between the retiree’s vested interest and the amount received over his or her lifetime.
Vested Interest is the member’s last annual salary plus the total amount of contributions paid to GERS.
The Designation of Beneficiary Form indicates the member’s designated beneficiary.
The beneficiary receives the benefit in a single lump-sum payment from GERS.
A death benefit application must be completed by the designated beneficiary and submitted with the following documentation:
If there is no record of designation of beneficiary for a deceased member, the death benefit is paid in accordance with Title 3 Chapter 27, Section 712 (a) (1) (2) (3) (4) VIC:
A family representative (spouse, child, parent, etc.) should visit the office to complete the necessary paperwork.