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Who is considered a designated beneficiary?

Any of the following individuals are considered an eligible designated beneficiary (EDB): a surviving spouse, a disabled or chronically ill individual, an individual who is not more than 10 years younger than the IRA owner, or a child of the IRA owner who has not reached the age of majority.

What happens to CalSTRS pension after death?

If initiated while married, a spouses CalSTRS pension benefits are classified as community property. Therefore, an individual with a CalSTRS pension must divide it with their spouse upon divorce, unless the parties agree otherwise.

What is an example of beneficiary designation?

For example, if you name your three cousins as your primary beneficiaries, you can name the children of each cousin as alternate primary beneficiaries. Then, if one cousin dies before you do, their share will be divided between their children who are named as alternate primary beneficiaries.

What is a beneficiary designation form?

If you die after retirement, the one-time death benefit is the same under both Coverage A and Coverage B. CalSTRS pays a one-time death benefit payment of $7,093 to your named recipient or recipients if youre a retired member. The amount of the payment may be adjusted periodically by the Teachers Retirement Board.

Do I have to fill out beneficiary designation form?

Forms for Designations We recommend that you designate beneficiaries to receive your life insurance benefits. However, if you are happy with the order of precedence(PDF file), you dont have to do anything.

calstrs beneficiary form

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