1. If the member was actively working and contributing to SURS, the surviving spouse is not eligible to utilize the LIS for purposes of income generation.
2. If the member was terminated and had not made a retirement election, the surviving spouse is not eligible to utilize the LIS for purposes of income generation.
3. If the member dies prior to “activation” of the LIS, the deceased participant’s LIS Balance (including their secured assets) can be withdrawn by the recordkeeper for the benefit of the survivor or the participant’s plan beneficiaries. SURS allows the surviving spouse (beneficiary) to create a new account at the recordkeeper and move LIS assets from the deceased members account to that new account. There is no automatic process linking a deceased participant and surviving spouses LIS account. SURS allows the surviving spouse (beneficiary) to create a new LIS account (with their beneficiary assets). An eligible surviving spouse may activate the new LIS account (or, if under 60, reinstate withdrawals from the non-secured portfolios). The surviving spouse would need to complete a new application to get that process started.
4. The surviving spouse may utilize an annuity in order to qualify for insurance benefits.