Survivor's Annuity

[jimijr]

Hi all. When I retired (FERS) I bought a 50% annuity for my wife at a cost of 10% of mine. Unfortunately she has pre-deceased me. Are my premiums refundable?

 

[nasa1974]

Hi all. When I retired (FERS) I bought a 50% annuity for my wife at a cost of 10% of mine. Unfortunately she has pre-deceased me. Are my premiums refundable?

jimijr,

Sorry for your loss.
I'm not familiar with FERS, but when I retired CSRS (2012) I opted for a survivors benefit for my wife. She passed in November 2021 from cancer. Because I no longer need the survivors benefit OPM will make the change to my pension. I guess you have to check with who you purchased the annuity through. Again, sorry for your loss.

 

[jimijr]

Thanks for your kind remarks. I bought the annuity through OPM of course. I'll visit their website and my account-page later today.

 

[nasa1974]

Thanks for your kind remarks. I bought the annuity through OPM of course. I'll visit their website and my account-page later today.

I filed all the paperwork with OPM in early December and it was just handed over to a case manager April 1st. Good luck.

 

[Bullitt]

Probably not a refund, but possible increase on your annuity.

If Your Current Spouse Dies and You Are Retired Under CSRS or FERS

Send a copy of your spouse’s death certificate to OPM.

U.S. Office of Personnel Management
Retirement Operations Center
Post Office Box 45
Boyers, PA 16017

If we are paying you a reduced annuity to provide a survivor annuity for your spouse, we may be able to increase your annuity after we have proof of the death.

https://www.opm.gov/retirement-services/my-annuity-and-benefits/life-events/death/death-of-spouse/

 

[jimijr]

Just what I wanted, thanks Mr. B.

I knew I'd get an answer, lots of brain power and experience on this board. And my retirement has been quite comfortable...until this.

 

[PessOptimist]

IIRC no refund. That was part of the discussion with wife at retirement time. Same thing at military retirement time (25 years ago) and she understood, signed the papers and bought a term life policy on me. Not so at fed retirement time. A friend of wife stated she could not survive without her deceased husbands military SBP, get the fed one and demand I reinstate the military one. Not possible 22 years later. Internal problem here. So OPM retirement is reduced by $266 per month for a possible payment of $1336 per month plus some ambiguous lump sum.. Hmmm.
Yeah I realize I just told you all my OPM annuity amount. Lots of entities have that.
Definitely contact OPM. Should be no problem.

PO

 

[jimijr]

Here's another one: I have experienced a 'life-changing-event' and so can change my BC/BS policy from family to self. OPM again? Erasing her "official" existence is complicated.

 

[evilanne]

Jim,
My condolences. Yes, OPM again. OPM has usually been pretty good with any questions or changes that I've needed. I know they handle FEHB & FEGLI issues.

 

[nasa1974]

Here's another one: I have experienced a 'life-changing-event' and so can change my BC/BS policy from family to self. OPM again? Erasing her "official" existence is complicated.

Yes, contact OPM. They will need your number, mine is a CSA not sure what FERS is. They will get some information from you and then send you paperwork to be filled out.
Not sure if you are collecting social security, but you might want to check with them and see if there are any benefits you might be able to receive with the passing of your wife. Again sorry for your loss. I truly understand what you are going through.

 

[jimijr]

Thanks again. Yes. I have both inquiries underway. We'll see what they do.