Annuity Fund

  > Benefit Options

If you’re married for at least one year, your account balance will automatically be paid to you as a 50% Participant-Spouse Benefit, which provides a lifetime monthly payment for you and then your surviving spouse.
 
If you’re single, your account balance will automatically be paid to you as a Single-Life Annuity, which provides a lifetime monthly benefit for you.
 
If you officially reject the automatic forms of payment, you may elect one of these options instead:

  • One lump-sum payment;
  • Up to 300 monthly payments, regardless of how long you live;
  • One or two payments per calendar year; each payment must equal at least 10% of your original account balance; or
  • A cash refund annuity that provides a “refund” to your beneficiary if you die before receiving monthly payments that equal the lump-sum value of your account.