Church Pension Group

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Life Insurance Beneficiary Designation Form

Should you die before you retire, your eligible spouse and children will receive:

Life insurance. While you are working and meet eligibility requirements, the Church Pension Fund provides a life insurance benefit equal to two times your current compensation, with a maximum value of $50,000. Additional life insurance

Surviving spouse benefit. If you die before you are eligible for retirement, your eligible surviving spouse will receive a pension benefit. In most cases, this benefit is equal to 50% of the pension you would have received and may be based on credited service projected to age 65. If you are eligible for retirement but die while you are working, your surviving spouse will receive benefits as if you had retired just before your death. Survivor's benefit details

Surviving child benefit. If you die while your children are young, each surviving dependent, unmarried child under age 22 may receive a benefit. If both parents die, the benefit is doubled. However, if your credited service is less than 15 years, the benefit is reduced by 1/15th for each year less than 15.

Surviving disabled child benefit. Surviving dependent children who are permanently disabled, either physically or mentally, will continue to be paid the surviving child benefit, as long as they were disabled before age 22 and do not receive full benefits or care from a tax-supported institution.

Lump sum death benefit. If you die before retirement and your assessments are fully paid, or you have earned 25 years of credited service, your designated beneficiary(ies) will receive a lump sum benefit of $5,000. If no one is named, or if you choose, the lump sum will be paid to your estate.

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