Showing posts with label marriage after retirement. Show all posts
Showing posts with label marriage after retirement. Show all posts

Marriage After Retirement

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What happens if you are single but marry after you retire. Is there a way to change your election so that your spouse receives your benefits after you die?
Yes, but only under specific circumstances. If you were single at retirement, and you elected the Life Income Annuity option, then you married after retirement, you have one year from the date of your marriage to change your election to either of the joint & survivor options (within the plan you elected at retirement). Please contact MOSERS for a Designation of New Spouse as Beneficiary for Retirement Benefits form. You must submit a copy of your spouse’s proof-of-age document and marriage certificate with this form.

There is one other situation in which you may change your benefit payment option after retirement:  If you were married at retirement and elected a joint and survivor payment option and your spouse died, resulting in your benefit reverting to the Life Income Annuity, and you remarry, you have one year from the date of remarriage to elect a joint and survivor option and name your new spouse as beneficiary. If your spouse dies, please notify MOSERS as soon as possible. You may be eligible for the “pop-up” provision, which would increase your monthly retirement benefit. Please contact a benefit counselor regarding your specific situation.

This information is included in the winter issue of RetireeNews.

Please note: This information primarily applies to general state employees. If you are a judge, administrative law judge, statewide elected official or a legislator, please refer to your MOSERS handbook or contact a MOSERS benefit counselor for specific guidelines.

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