Death Benefit
The Death Benefit is the balance in a Participant’s Individual Account on the date of distribution to the Participant’s beneficiary. It is important that NEAP receive a copy of your death certificate as soon as possible.
Married and You Die Before Receiving a Benefit
If you die before receiving a benefit and you are married at the time of your death, the balance of your individual account will be paid as a Death Benefit to either A, B or C below:
| A |
To your spouse as a pre-retirement spouse benefit through the purchase of a single-life annuity payable each month to your spouse for your spouse's lifetime, if your spouse chooses. |
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OR |
| B |
To your spouse as a lump-sum distribution, if your spouse chooses. |
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OR |
| C |
To your designated beneficiary as a lump-sum distribution, if your spouse has consented to the designation. |
Not Married and You Die Before Receiving a Benefit
If you are a participant and die before receiving a benefit and you are not married at the time of your death, the balance of your individual account will be paid as a Death Benefit to either A or B below:
| A |
To your designated beneficiary as a lump-sum distribution. |
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OR |
| B |
To the following individuals in the indicated order, if there is no beneficiary:
- Your children (shared equally), or
- Your parents, or
- Your estate.
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