Sec. 5014.1. Options available to members at retirement—general

Latest version.

A member may elect at retirement, in lieu of the maximum benefit, one of the following options, as applicable:
Lump sum option:
Declining reserve (Tier 1 members only)
Annuity reserve (Tier 1 and Tier 2 members only)
Guarantee option:
5-year
10-year
Alternative option (Tier 1 and Tier 2, Tier 4 through 6 members only)
Alternative option (Tier 3 members only)
Survivor option:
100%
75%
50%
25%
Pop-up option:
100%
75% (Tier 1 and Tier 2, Tier 4 through 6 members only)
50%
25% (Tier 1 and Tier 2, Tier 4 through 6 members only)
Each option is defined in section 5014.2 of this Part.

                    
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