- Participants receiving a pension benefit
- Participants not yet receiving a pension benefit
- Even survivors can have beneficiaries
- Reporting the death of a participant
PBGC makes three distinct types of payments to beneficiaries.
- Survivor benefits. If you chose an annuity form that provides survivor benefits, PBGC will pay them to the person that you designated at the time you applied for your pension benefits.
- Preretirement survivor benefits. If you are married and die before you begin receiving pension payments, PBGC will pay survivor benefits to your surviving spouse.
- Unpaid amounts owed to you at the time of your death. If, for example, after your death PBGC discovers that we had been paying you too little each month, we will pay the balance owed plus interest to a beneficiary.
Also, if you are entitled to or are receiving a survivor benefit when your plan ends, PBGC will continue to pay this benefit to you (adjusted for any guarantee limits) for the period provided by your plan.
Designating your beneficiary is very important, even if you have not yet begun to receive pension payments. You can find detailed instructions for naming a beneficiary or changing a previously named beneficiary with our online account service.
Participants receiving a pension benefit
PBGC pays survivor benefits if the benefit form you elected at the time you retired included a survivor benefit.
If you are receiving a joint-and-survivor annuity, you cannot change the beneficiary designation you made at the time you applied for benefits.
If your benefit is one that provides for survivor benefits to be paid after your death (as with a joint-and-survivor or certain-and-continuous annuity), the person named to receive those continuing benefits will receive any payments due to you at the time of your death. If your benefit does not provide survivor benefits, you may still name someone to receive any money that may be owed to you at the time of your death. If you do not name anyone, or if the person you name dies before you, PBGC will pay the amount owed to you in this order: your spouse, your children, your parents, your estate and your next of kin. See: Designate a beneficiary
Participants not yet receiving a pension benefit
If you are married and die before you receive your first pension payment, PBGC will pay your surviving spouse a survivor benefit. Your spouse can begin this benefit as early as the date you would have been eligible to receive a benefit from PBGC.
You may designate a beneficiary for payments that PBGC may owe you at the time of your death, including certain lump-sum amounts (usually for small benefit amounts). See: Designate a beneficiary
- When to select a benefit payment option:
- When you apply for benefits, you will have an opportunity to select the form of annuity you want and to designate a beneficiary for survivor benefits to be paid after your death (as with a joint-and-survivor or certain-and-continuous annuity). PBGC must receive your application no more than 90 days before the date you request that your benefits begin. You may change your selection by filing a new application before the date of your first payment. After the date of your first payment, you cannot change your selection.
- Different payment options:
- Please see Your PBGC Benefit Options: Questions and Answers for Participants for information on this topic.
Even survivors can have beneficiaries
If you are eligible to receive payments as the beneficiary of a pension plan participant, it is important that you also designate a beneficiary. PBGC makes two distinct types of payments that your beneficiary could become eligible to receive.
- Survivor benefits. If you are receiving an annuity, such as a Certain-and Continuous Annuity, that provides survivor benefits after your death, PBGC will pay them to the person that you designate.
- Unpaid Amounts owed to you at the time of your death. If after your death, PBGC discovers that we had been paying you too little each month, we will pay the balance owed plus interest to a beneficiary.
You can find detailed instructions for naming a beneficiary or changing a previously named beneficiary with our online account service.
- Report the death of a participant:
- In order to report the death of a person who is receiving or due a pension benefit from PBGC, please call PBGC's Customer Contact Center at 1-800-400-7242. For TTY/ASCII (American Standard Code for Information Interchange) users, call the federal relay service toll-free at 1-800-877-8339 and ask to be connected to the number listed above. When you call, you will need the following information:
- The deceased participant's name
- The deceased participant's social security number
- The deceased participant's address
- Your relationship to the deceased participant
- Your phone number and address
- The date of death
Once you call PBGC with this information, a letter will be sent by PBGC requesting a copy of the death certificate. If benefits are due, several forms will be sent for you to fill out.
If you have received payments issued to the deceased participant after the date of death, you should return those payments to the following address:
Pension Benefit Guaranty Corporation
Insurance Operations Department
PO Box 62133
Baltimore, MD 21298-8457
- Beneficiary application for benefits:
- See information under "As beneficiary of a payee" on this page: Apply for your pension