How Your Monthly Benefits are Paid
At retirement, you choose from six different plans to direct the payment of your lifetime monthly service retirement benefits. These plans give you the flexibility to choose the appropriate level of financial protection for your loved ones after your death. You cannot change your benefit plan after your PSRS retirement date.
Benefit Plans for PSRS Members
No matter which benefit plan you choose, you will receive benefits for life.
Only you can decide which benefit plan is best for you. When selecting a benefit plan, you should consider your:
- Financial obligations
- Income from other sources
- Spouse’s or dependents’ needs
You may also want to consider discussing your retirement plans and goals with your spouse or other family members and seeking advice from a trusted financial advisor.