Spouse Dies Before Retirement

• 1). Notify the investment company managing the pension that your spouse has died. You may be required to present your spouse's death certificate to the company.
  
  
• 2). Ask the investment company about your distribution options for the pension benefit. The company must offer a qualified pre-retirement survivor annuity, which is a monthly payment over your entire life. They may also give you the option of taking a lump-sum payment or a series of annual payments.
  
  
• 3). Compare the different payment options and evaluate which best fits your retirement plan. Once you choose an option, you cannot undo your decision.
  
  
• 4). If you are not ready for retirement, consider rolling over the lump-sum payment into an individual retirement account. This will delay taxes on the pension benefit until you begin making withdrawals in retirement.
  
  
• 5). Let the investment company know of your distribution decision and complete any paperwork needed to finish the transaction.
  
  

Spouse Dies During Retirement

• 1). Before your husband reaches retirement, contact the pension plan administrator and confirm that the pension will make payments over your joint-lives. Joint-life monthly payments will be lower than monthly payments based only on your spouse's life, but will not stop if he dies.
  
  
• 2). When your spouse dies, contact the investment company managing the pension and let them know about the death. This is only to keep the pension records up-to-date. Your monthly payments will not be affected by your spouse's death.