For IPERS Beneficiaries

ExampleJoe retires 2 months before his 59th birthday after working in IPERScoveredemployment for 21 years and earning a high 3-year averagesalary of $42,014.26. His wife is age 60 and 10 months. His IPERScontributions plus interest total $44,563.91. Here’s the amount of hisbenefit and the death benefit payable to his wife under each option.Monthly Benefit Payable to Joe: $1,301.79Monthly Benefit Payable to Joe’s Wife in the Event of HisDeath After 24 Months: $1,301.79 for 96 months; thereafter,no benefits payable.ORAssuming Joe had multiple beneficiaries, the lump sum payableif Joe dies after 24 months of pension payments is $97,600.52.Monthly Benefit Payable to Joe:100% 75% 50% 25%$1,157.91 $1,197.43 $1,239.75 $1,285.16Monthly Benefit Payable to Joe’s Wife in theEvent of His Death:100% 75% 50% 25%$1,157.91 $898.07 $619.87 $321.29Information About IPERS Death Benefits9