Assume John Murphy has earned a service retirement benefit under the maximum allowance of $2,000 a month. He wants to share his benefit with his spouse, Pam, who is 51 when John retires at 57 after 30 years and three months of creditable service. The table below shows how much John and Pam would receive monthly under each payment option.
| Payment Option | To John | To Spouse after John's Death |
| Option 1: Maximum Allowance | $2,000 monthly | $0.00 |
| Option 2: 100% Joint & Survivor | $1,834.60 monthly | $1,834.60 monthly |
| Option 3: 50% Joint & Survivor | $1,913.80 monthly | $956.90 monthly |
| Option 4: Social Security Leveling* | $2,650.90 monthly up to age 62, $1,650.90 monthly thereafter. | $0.00 |
| Option 6-2: Modified Joint & Survivor | $1,822.60 monthly If the spouse dies before John, he receives $2,000 monthly thereafter. | $1,822.60 |
| Option 6-3: Modified Joint & Survivor | $1,907.20 monthly If the spouse dies before John, he receives $2,000 monthly thereafter. | $953.60 |
| *Assumes John's primary Social Security benefit is $1,000 per month at age 62. | ||
These are only examples. Each member's benefit is calculated individually, and the actual amounts of your payment options are based on many factors, such as your age, your beneficiary’s age and when payments start.
This page was last modified on 09/10/2024