For IPERS Beneficiaries

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Financial Protection for Peace of MindIPERS death benefits provide financial protection to eligiblebeneficiaries. They are designed to ease the financial strain thatsometimes follows the death of a loved one. You should notifyIPERS as soon as possible after a member’s death. NotifyingIPERS will help ensure that benefits are paid properly and timely.Benefits will be paid according to the most current beneficiarydesignation on file with IPERS.WHO ARE IPERS MEMBERS?IPERS covers most public employees in Iowa. Covered employersinclude—but are not limited to—schools, counties, state agencies,cities, and townships. If you think a loved one worked in IPERScoveredemployment at some point, please call IPERS to find outif you are eligible for death benefits.Eligibility for Death BenefitsThe IPERS beneficiary designation will supersede manylegal documents such as wills or assignments. A beneficiarydesignation generally will be revoked by a divorce decree,unless the beneficiary designation is implemented by a QualifiedDomestic Relations Order (QDRO). If a member has a QDRO onfile with IPERS that requires death benefits to be divided, deathbenefits will be paid according to the QDRO. (See the brochure“Divorce and IPERS Benefits” for more information about QDROs.)If there is no valid beneficiary designation on file, benefits will bepaid in the following order to the member’s:1. Estate; or if none,4. Parents; or if none,2. Spouse; or if none,5. Siblings (divided equally).3. Child(ren) (divided equally);or if none,If you are both an IPERS member and a beneficiary, you mayreceive IPERS pension and death benefits at the same time.2 For IPERS Beneficiaries
Payments to MinorsIf the designated beneficiary is a minor, death benefits must bepaid to a custodian or conservator. If the death benefit amount is:• Less than $25,000, payment may be made to theminor’s adult custodian.• $25,000 or more, the benefit must be paid to acourt-established conservator.If the minor will reach age 18 before the filing deadline, the minormay wait until he or she reaches age 18 to apply for benefits. Besure to contact IPERS as soon as possible to ensure that benefitsare claimed within the required time period to avoid forfeiture ofdeath benefits.When to File a ClaimClaims for death benefits should be filed as soon as possible afterthe member’s death. The required filing date is set by the IRS andmay vary according to your situation. If a claim for death benefitsis not made by the required filing date, death benefits may beforfeited. If there is more than one designated beneficiary andsome beneficiaries apply for death benefits within the requiredtimeframe and others do not, any unclaimed benefits will be paidpro rata to those who filed timely claims. Contact IPERS to findout your required filing date.Contact IPERS as Soonas Possible After aMember’s DeathBeneficiaries should contact IPERSas soon as possible after a member’sdeath. If an application is not filedby the required filing date, benefitsmay be forfeited.Information About IPERS Death Benefits3
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