Retirement Home

Allowance Calculator

Allowance Percentage Generator

Applying for Retirement Allowance

Beneficiary Information

Deferred Retirement

Retirement Systems Forms

Options B & C

PERAC

Veteran Buy-Back Benefit

Veteran's Eligibility

FAQs

OPTION (B): The retirement allowance under this Option is smaller than under Option (A). However, in the event of your death before the total payments of the annuity portion of your allowance equal your total accumulated deductions at your retirement date, the balance is payable to your designated beneficiary(ies), or if there is no beneficiary living, the person or persons appearing in the judgement of the retirement board to be entitled thereto.

OPTION (C): The retirement allowance under this Option is smaller than under Option (A) or Option (B), but upon your death your beneficiary receives a lifetime allowance of two thirds of this smaller allowance. Only your spouse, former spouse who has not remarried, child, father, mother, sister or brother may be your beneficiary. The younger your beneficiary, the smaller your allowance will be. If your beneficiary dies on or after the date your retirement allowance becomes effective but prior to your death, you will be paid an allowance under Option (A), and may not choose another Option.