Service Pension Payment Options
You may choose one of the following service pension payment options:
| Service Pension Payment Options | |
|---|---|
| Life Annuity (normal form of payment) | Pays you the full benefit you're eligible for under the plan. You'll receive your full monthly pension amount for as long as you live; benefits stop upon your death. |
| Joint and 100% Survivor Option (Option A) | You receive a reduced pension at retirement, but, after your death, the same amount will be paid to your spouse (or beneficiary) for life. |
| Modified Joint and Survivor 50% Option (Option B) | You receive a reduced pension at retirement, but after your death, one-half of the amount of your pension will be paid to your spouse (or beneficiary) for life. |
| Social Security Option (Option C) | A payment option for employees who retire and do not immediately begin drawing Social Security benefits. You receive an increased monthly pension until you start drawing your Social Security benefits, then receive a reduced pension for the remainder of your life. |
| 120 Months Certain and Life Option (Option D) | Guarantees a minimum of 120 monthly payments, with a reduced benefit. If you die before receiving 120 monthly payments, the remaining payments will be made to your designated beneficiary. |
| Joint and Survivor 100% Option with Pop-Up Feature (Option E) | Same as Option A, except that, if your designated beneficiary dies first, your monthly benefit will “pop up” to your full benefit amount, which you will receive for life. |
| Modified Joint and Survivor 50% Option with Pop-Up Feature (Option F) | Same as Option B, except that, if your designated beneficiary dies first, your monthly benefit will “pop up” to your full benefit amount, which you will receive for life. |