POMPANO BEACH POLICE & FIREFIGHTERS' RETIREMENT
SYSTEM
SUMMARY PLAN DESCRIPTION
SURVIVOR BENEFITS
Before Retirement
Service Incurred
If you die as a direct result of an occurrence
arising from the performance of your duties, the following death benefit
shall be payable:
1. A $5,000 lump sum payment,
plus
2. To your spouse: 75% of your final
earnings until your spouse's remarriage or death; plus
3. To each unmarried natural or legally
adopted child under age 18 (or 22 if full-time student in an accredited
school): 7 1/2% of your final earnings (until such child marries or
attains age 22).
The maximum amount payable to your spouse and
children is limited to 90% of your final earnings. If you have no
spouse, or upon your spouse's remarriage or death, each child shall
receive 15% of your final earnings - not to exceed 50%.
NOTE: If you are killed in the
line of duty, and your spouse later remarries, she/he will continue to
receive 75% of your final earnings, and your children, if any, will
continue to receive 7-1/2% of your final earnings (until 18 or 22,
whichever applies).
Non-Service Incurred
If you die from causes not attributable to active
duty, then your death benefit is:
1.
With less than one year of Credited
Service: None
2. With one or more but less than five years of Credited
Service: A $5,000 lump sum payment payable to your designated
Beneficiary.
3. With five or more years of Credited
Service:
a. $5,000
lump sum payment; plus
b. To
your spouse: 65% of your Accrued Benefit as of your date of
death, subject to a 20% minimum of your Average Monthly Salary;
plus
c.
To each unmarried natural or legally adopted
child: The same benefits and age stipulations as outlined for service
incurred death benefits.
The maximum amount payable to your
spouse and children is limited
to 50% of your final earnings.
4.
With 10 or more years of
Credited Service: Your designated Beneficiary may elect the benefit
described in Item 3. above or your Accrued Benefit payable at your Normal
Retirement Date or payable at your Early Retirement Date reduced as
described above for early commencement.
After Retirement
If you were receiving an optional form of
retirement payment which provided for a survivor's benefit to be paid
after your death, your Beneficiary will receive payments following your
death in accordance with that option. A later page describes the various
forms of retirement payments.
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