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Reply to "FERS survivor benefit "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Your spouse would get both. There is the Basic Death Benefit which is 50% of your salary plus a fixed amount (which I believe is current'y around $40,000). Your spouse would also get a Survivor Annuity, which is 50% of your calculated value (15 years would be 15X.01Xyour high three salary). So if your high three is $100,000, your spouse would get $7,500 per year. [/quote] Meant to also say that the Basic Death Benefit is a one time payment, whereas the Survivor Annuity is given every year until the spouse dies.[/quote] They also, of course, get a lump sum payment for unused leave, which can be substantial. And if you had the life insurance through the Federal Government, there's that. The big difference is that the FERS takes a long time to get processed. Like at least six months, whereas the Lump Sum Payment comes almost immediately so that you can pay for the funeral and hospital expenses.[/quote]
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