Helpful Information

Retiree Death Benefit -your spouse/child under 23/dependent child/dependent parent or legal life partner might be eligible for an additional payment upon your death

Retiree Death Benefit:

Some may not know that there is a Retiree Death Benefit entitlement that is in addition to the $15,000 life insurance policy from the company. The amount of the Retiree Death Benefit is dependent on your salary when you were working and some other parameters. If you had 10 years or more of service in 1989, your spouse, child under 23, dependent child or dependent parent, or legal life partner might be eligible for the additional payment after your death. To check for eligibility, call Net Benefits at 1-800-416-2363 and say the word “representative” at the prompt. The representative can input your Social Security number and let you know if this applies to you. Again, this additional death benefit is only available to your spouse, child under 23, dependent child or dependent parent, or legal life partner and cannot be designated through a beneficiary form.

Below is from page 45 and 46 of the Southeast Program Pension Plan Information, SPD Summary Plan Description:

Retiree Death Benefit Eligibility

A Retiree Death Benefit may be payable if you had a Termination of Employment before Jan. 1, 1988 and satisfied the Modified Rule of 75 at your Termination of Employment, or you were receiving a Disability Pension. A Retiree Death Benefit may also be payable if you had at least ten (10) years of Term of Employment as of Dec. 31, 1989, and you satisfy the Modified Rule of 75 at your Termination of Employment. Other restrictions may apply to payment of the Retiree Death Benefit.
Amount
The maximum amount of the Retiree Death Benefit is equal to the greatest of the following:

  • The maximum Sickness Death Benefit that you could have received if you had died on your Termination of Employment.
  • If you retired from Jan. 2, 1979 to Aug. 10, 1980, the maximum Sickness Death Benefit that could have been paid if you had died on the last day of the month in which you turned age sixty-five (65).
  • If you retired before Dec. 31, 1989, the base pay at retirement plus Wages eligible for the twelve months (12) prior to retirement.
  • If you have a Term of Employment of twenty (20) or more years as of Dec. 31, 1989, the benefit equals twelve (12) months of Wages for the period ending Dec. 31, 1989.
  • If you have a Term of Employment between ten (10) and twenty (20) years as of Dec. 31, 1989, the benefit equals fifty percent (50%) of the twelve (12) months of Wages for the period ending Dec. 31, 1989.
  • Note that, depending upon when your Termination of Employment occurred, the amount of the Retiree Death Benefit may be subject to a reduction of ten percent (10%) for each year between your Termination of Employment and your death. Contact the Recordkeeper if you have questions regarding the amount of your Retiree Death Benefit.

Page 46
Source
The Retiree Death Benefit for Bargained Employees terminated before Jan. 1, 2009 or for any Management or Non-management Non-union Employee, regardless of termination date, will be paid
from the AT&T Retiree Death Benefit Program under AT&T Umbrella Benefit Plan No. 1 if a former Employee and AT&T Umbrella Benefit Plan No. 3 if an active Employee. Benefits may be paid from a voluntary employees’ beneficiary association trust or corporate assets. Death Benefits for Bargained Employees terminating Jan. 1, 2009 and after are paid from the Pension Trust
Eligible Beneficiaries. Your Accident Death Benefit, Sickness Death Benefit or Retiree Death Benefit will be paid to your
Mandatory Beneficiary, if you have one, and otherwise to your Discretionary Beneficiary.

Each of the following individuals is considered a Mandatory Beneficiary in the following order:

  • Your Spouse, if living with you at the time of your death
  • Your Legally Recognized Partner, if living with you at the time of your death
  • Your unmarried dependent children under age twenty-three (23) and considered a dependent under tax filings (or over age twenty-three (23) and incapable of self-support)
  • Your dependent parents, if considered dependent under tax filings
    Discretionary Beneficiaries are any other relatives who are dependent on you and are receiving, or are entitled to receive financial support from you at the time of your death as determined by then Plan Administrator.

Miscellaneous Information

Any Other Death Benefit may be paid in a lump sum or in installments at the discretion of the Plan Administrator, except as provided below for certain Retiree Death Benefits. However, payments may not extend beyond five years after your death. If you have a Termination of Employment as a result of being Totally Disabled and continue to be disabled until your death, an Other Death Benefit may be paid to your Mandatory or Discretionary Beneficiaries at the Plan Administrator’s discretion. The amount of this payment will not exceed the amount of the Other Death Benefit that would have been paid if you had died on your last day of active work.

The Retiree Death Benefit for Bargained Employees terminated before Jan. 1, 2009 or for any Management or Non-Management Non-union Employee, regardless of termination date, will be paid
in the form of a lump sum.

Claims Deadline

All claims for Accident Death Benefit, Sickness Death Benefit or a Retiree Death Benefit must be made within one (1) year of your death.