Option 3

How it Works


This option is available only when the beneficiary is not a qualified spouse/domestic partner, and provides upon death, a lifetime benefit to your sole beneficiary equal to 50% of the benefit you received during retirement. In order to provide this continuance, your benefit is reduced during retirement based on your life expectancy and the life expectancy of your beneficiary.

Should your beneficiary pre-decease you, you will continue to receive the same reduced amount. You will not be allowed to designate a new beneficiary.