| How will my final paycheck be paid in the event of my death? | Phone Number | ||||
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Final Paycheck Unpaid |
By law, in the event of your death, the Finance Dept. must issue your final pay (for hours worked and leave payouts) as a printed check payable to your estate rather than allowing a direct deposit to go through in your name. This means that Finance will stop the direct deposit and issue a printed check made payable to "The Estate of _______" and your next of kin will need to provide documentation to the Payroll Supervisor that he or she is entitled to receive the check. Documentation may include proof of Executor-ship of the estate (as outlined in your will) or designation as the Administrator of the estate (received from the Circuit Court of residence). |
Finance Dept. |
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| Benefit | How will my benefits be paid if I die? | How can I change or update my beneficiary? | Phone Number & Benefit Website |
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VRS |
VRS rules determine how benefits are distributed if you die while being an active employee. Benefits are paid by the order of precedence or they way you have it on your designated beneficiary form. You can choose a survivor benefit plan when you complete a VRS retirement application. Please call Securian Financial to verify your beneficiaries. |
To designate or change a beneficiary for the member portion of your VRS benefit, complete VRS-2 form. Instructions are included on the form. |
VRS |
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Life |
Part of VRS benefits are valued at two times your annual pay that is rounded up to the nearest thousand. Please call Securian Financial to verify your beneficiaries. |
Complete VRS-2 form to designate or change a beneficiary for VRS Group Life and Optional Life benefits. Instructions are included on the form. |
Securian Financial |
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457 Deferred |
Account balance is payable to designated beneficiary. Amount payable depends on your contributions and market earnings or losses. A beneficiary designation was made if you joined the program and you must keep your information up-to-date. Call ICMA or log in to ICMA online account to verify your beneficiary. |
Log in to Account Access to change name, beneficiary or marital status. |
ICMA-RC Deferred Compensation VALIC (Corebridge Financial) American Century Investments LCS Benefits Office for Enrollment Kit AXA Equitable Life Assurance Co. Voya Life Insurance and Annuity Co. |
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Medical |
Federally guaranteed continuation of medical, dental and vision coverage (COBRA) for your family if you die. Eligible family members may choose to maintain coverage with the Lynchburg City Schools' health care plans for up to 36 months by paying a monthly premium. |
Office of Payroll & Benefits will automatically send information to your family in the mail. |
Office of Payroll & Benefits |
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Flexible Spending |
Receipt for claims may be submitted for services received prior to employee's death, any unused funds are forfeited. IRS defines rules. |
Flexible Benefit Administrators |
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