Meanwhile in our own conference over at FIU:
http://www.sportingnews.com/ncaa-bas...destini-feagin
So! nlu was the first WBB program in history to get an NCAA sanction. Wow! congrats to the injuns! Good to be first in something. So, they have that going for them.
Tyler to receive his mother's retirement of $14,460 per month, $173,520 per year, with annual cost-of-living adjustments as part of all his mother's tangible personal property.
Some retirement plans don't have such survivorship benefits. Maybe I should say "most" do not. None of the retirement plans we (my wife and I) have have such a benefit for our kids, only to each other. Of course, don't feel sorry for our kids, they'll do very well in inheritance....
That is obviously a state of Tennessee retirement plan policy. States have different provisions.
Unless....what about Louisiana? Hmmm...need to check on that.
Normally pension plans have survivor benefits for the spouse if the employee elects that option.
Normal retirement plans (IRAs, 401Ks, etc.) have a named beneficiary that can be your kiddos.
My wife works at Tech, and has for more than 20 years. With her retirement she can either opt to receive a monthly amount until she dies or receive a lesser monthly amount and name an individual to receive a certain amount following her death. The amount that person would receive would depend upon their age (e.g., if she choose me I'd get a higher monthly amount [most likely for a shorter period of time] than if she choose our son). Could only choose one (e.g., if I get the amount I couldn't then pass it along to my son upon my death). At least that is my understanding. Don't know if they still offer the same to new hires.
Ask your insurance person about the "pension max" concept. In short, you always take the larger amount. Use the difference to buy life insurance on the retiree with the spouse or whoever as beneficiary. The beneficiary will receive more money (tax free) and the retiree will only have to take a small cut to pay the premium.
Note: This only works will if the retiree is insurable and can get a decent rating on the life policy.