Death benefits


Q. I plan to choose an annuity for my Thrift Savings Plan savings that will pay my spouse half if I die. What happens to the balance of my money in TSP if we both should die shortly after the annuity is activated?

A. If you select and pay for the cash refund option, any unrecovered premium will be paid to your beneficiary(ies) as a death benefit. If you do not purchase the cash refund option, then annuity payments stop and no death benefit is paid.


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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to and view his blog at

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