FROM: Barbara Hannah, Chief Counsel
SUBJECT: Benefits Policy No. 037 (Survivor Benefit - No Named or Deceased Beneficiary Designation)
RECOMMENDATION:
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Approve and adopt Benefits Policy No. 037 (Survivor Benefit - No Named or Deceased Beneficiary Designation).
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BACKGROUND:
The purpose of Benefits Policy No. 037 (Survivor Benefit - No Named or Deceased Beneficiary Designation) is to provide clear direction to SBCERA staff and successor(s) in interest when a member or recipient payee passes away and there is no named beneficiary designation on file, or when a named beneficiary on file is deceased.
Adopting Benefits Policy No. 037 will assist staff by providing formal guidelines in scenarios where there is no named beneficiary. This will result in a more efficient process that allows payments to be made on a timely basis, while also providing a superior service experience to successor(s) in interest.
The intent of Benefits Policy No. 037 is to comply with succession laws in accordance with California law of intestacy. Once successor(s) in interest are verified, they will be required to complete an SBCERA limited affidavit form which releases liability and indemnifies SBCERA from paying benefits erroneously.
COMMITTEE REVIEW:
This item was reviewed by the Administrative Committee at its February 19, 2026 meeting. A minor revision was made to the proposed policy in Section II - Operating Criteria, to provide clarity as to a benefit payout if there is an active trust for the member. The committee recommends Board approval as amended with a 4-0 vote.
BUDGET IMPACT:
None.
STRATEGIC PLANNING GOAL/OBJECTIVE:
Operational Excellence & Efficiency
STAFF CONTACT:
Barbara Hannah
Alexander “Sandy” Meier
ATTACHMENTS:
Exhibit A: Benefits Policy No. 037 (Survivor Benefit - No Named or Deceased Beneficiary Designation)
Exhibit B: SBCERA Limited Affidavit