Five Year Certain
If you're single, widowed, divorced, or have waived the Joint and Survivor form, you'll automatically receive the Five Year Certain pension. This benefit payment form guarantees you a full benefit for the rest of your life. If you die after you retire, but before you receive the first 60 payments, your beneficiary(ies) will receive the remainder of the five years' worth of payments. You can waive this form of payment and choose one of the other payment forms described here.
Ten Year Certain
The Ten Year Certain option provides a reduced lifetime pension benefit. If you die after you retire, but before you receive the first 120 payments, your beneficiary(ies) will receive the remainder of the 10 years' worth of payments.
Joint and Survivor
If you're married, you'll automatically receive a reduced pension benefit for the rest of your life. When you die, your spouse will receive 50% or 75% (as selected at retirement) of your reduced pension payment for the rest of his or her life. You can waive this form of payment (with your spouse's written consent) and choose one of the other forms of payment outlined on this page.
Contingent Annuitant
The Contingent Annuitant option provides a reduced lifetime benefit. If you die after you retire, but before you receive the first 60 payments, your beneficiary will receive any remaining full benefit payments. After that, your beneficiary will receive your choice of 50%, 66 2/3%, 75%, or 100% of your reduced monthly pension benefit for the rest of his or her life.