Should an active clergy participant in the pension plan die before retirement, his or her eligible surviving spouse and children or named beneficiary will receive:
- Life insurance equal to two times assessable compensation, with a maximum value of $50,000.
- Surviving spouse or named beneficiary benefit, in most cases equal to 50% of the pension the cleric would have received and may be based on credited service projected to age 65. (If the cleric was eligible for retirement at the time of death, the surviving spouse or named beneficiary receives benefits as if the retirement had occurred just before death.)
- Surviving child benefit, for unmarried, dependent children under age 25. If both parents die, the benefit is doubled. However, if credited service is less than 15 years, the benefit is reduced by 1/15th for each year less than 15.
- Surviving disabled child benefit. for dependent children who are permanently disabled, either physically or mentally. The child continues to receive the surviving child benefit, as long as they were disabled before age 25. When the child of a clergy person becomes disabled, it is vital that we are informed as soon as possible.
- Lump sum death benefit. For clergy with fully paid assessments or those have earned 25 years of credited service, a designated beneficiary(ies) will receive a lump sum benefit of $5,000. If no one is named, or if the cleric has chosen, the lump sum is paid to the estate.
If you receive notice that a clergy participant or spouse dies, please contact Pension Services immediately at (866) 802-6333 or send us an e-mail from the Contact Us page.