The Joint-and-Survivor Benefit Plans

At retirement, you choose from six different benefit plans to direct the payment of your lifetime monthly service retirement benefits. Three Joint-and-Survivor plans are among those choices.

Facts About Joint-and-Survivor Plans:

  • Your lifetime benefits are reduced based on your age and the age of your beneficiary.
  • Your beneficiary receives lifetime benefits after your death.
  • You can change your beneficiary only if you have named your spouse, your spouse dies or you divorce, and you subsequently remarry and designate your new spouse as beneficiary.
  • After your death, these plans pay lifetime monthly benefits to your beneficiary.
  • You can choose beneficiary payments equal to 100%, 75% or 50% of your benefit.
  • The greater the beneficiary percentage, the greater the reduction in your benefit.
  • If your beneficiary dies before you, your benefit “pops up” to the larger Single Life amount.
  • You can name only one person with a financial dependence on you as your Joint-and-Survivor beneficiary. A spouse, child or parent is automatically eligible.

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