Normal forms of payment
Unless you choose another method of payment, your benefit will be paid the following way:
- If you aren't married when your benefit payments begin, your benefit will be paid as a Life Annuity. This annuity provides you with a monthly benefit for your lifetime. Payments begin when you retire and are paid until you die.
- If you're married when your benefit payments begin, your benefit will be paid as a Joint and 50% Survivor Annuity with a monthly benefit for your lifetime. After your death, if your spouse is living, they receive 50% of that monthly benefit during their lifetime.
If you're married, you may be able to name another beneficiary with your spouse's consent. Their consent must be in writing and witnessed by a notary public. Your spouse's consent will relate to the specific method of payment or named beneficiary, unless they waive all rights to further consent. They have the right to limit their consent to a specific method of payment or to a specific beneficiary.