"Federated City Employees Retirement. Usually, you fill out the required paperwork and submit it to the plan administrator, who then can tell you what your benefits will be and when they will start.There can be a few different qualifications for who is subject to ERISA. Read this article from New City Insurance for more information. You will complete a new beneficiary form and the survivor benefits will be paid in accordance with what retirement option you elect. IRA beneficiaries can include spouses, children, parents, trusts, or charities. What compensation is used to determine my Plan benefits? ERISA's definition of "fiduciary" basically encompasses three categories of responsibility or activities with respect to an employee benefit plan. The System provides medical, survivorship, and permanent disability benefits to qualified members and their beneficiaries. Authority. May take up to 90 days to complete.