Primary beneficiary died - retiree pension options

Trek007

Hello all. This is my first post and hopefully a helpful one. The pension system is very confusing so I need some help. My wife passed away And she was the primary beneficiary to my pension here in New Jersey. I am presently receiving a monthly pension check. I spoke to the lady who handles the pension benefits and she informed me that I can have a contingent beneficiary however if I die presently until three years from now my daughter can collect only during this timeframe. If I don't die in the next three years my daughter will collect nothing. Is this true or is there's something else I do not know about?

kangoora

Not sure if you realise you've posted on a UK based pensions board. You may want to find a USA based one.

System

Hi

This sounds like you have a pension that is guaranteed to be paid for a minimum period.

If you die within that time then the residual amount is paid to someone else, or is added to your estate.

The question you could ask is along these lines,

Do I have a Guaranteed Minimum Period?
Would any residual amount, in the event of early death, be paid as a lump sum if there is no other beneficiary named into my estate?