In the event of death, all vested benefits are payable to designated beneficiaries or according to default elections. Beneficiaries are the people who will receive the remainder of your account after you die. It is important to designate beneficiaries for your benefits to make sure your loved ones are protected and the correct people receive your benefits.
If you are vested in the Pension Plan, but you die before you begin receiving your pension benefit, your surviving spouse will be eligible to receive a death benefit. If you do not have a surviving spouse, your minor children may be eligible to receive death benefits. A child is considered “minor” until he or she reaches age 19 (or age 23 if in college) or continuously if mentally or physically incapacitated. If eligible, the monthly amount of this benefit will be either 50% of your pension credits or $4,400 – whichever is greater. For the first 48 months following your death, the amount of this benefit is $9,000.
For more information and to manage beneficiaries, log on to the NFL Player Benefits website, or contact the PA’s benefits department.