Types of Monthly Retirement Options
- Retiree may elect a 60 or 120 month Pension Payment Guarantee.
- After the retiree's death, his or her beneficiary will receive the remaining payments of 60 or 120 monthly pension payment equal to the monthly pension amount received by the retiree.
- Retiree may elect a 50%, 75% or 100% Joint and Survivor Option (Reduction in the Accrued Monthly Pension depends upon the option selected and the difference in ages).
- After the retiree's death, his/her spouse will receive a lifetime monthly pension benefit equal to 50%, 75% or 100% of the monthly pension amount received by the retiree.
- If the spouse predeceases the retiree, the monthly pension amount will "pop-up" to the amount prior to the reduction for surviving spouse benefits. You must notify the Fund Office of your spouse's death and provide the death certificate to receive the pop-up.