§ 27006 Beneficiary Annuity Death Benefit

• •If you choose to get the death benefit as regular payments (like a pension) instead of a lump sum, the money from the worker's account moves to a special reserve.
• •This rule applies to the money saved in both the worker's and employer's accounts.
• •The change was made official in 1999.

Your parent worked for the government and passed away. You can choose to get their retirement money as monthly payments instead of all at once.

If you pick the monthly payments, all the money saved in your parent's work accounts will be moved to a special fund to pay you every month.