If you are married and elect to receive your payment in a form other than the 50% Husband-and-Wife Option, your spouse must consent in writing to your election, as witnessed by a notary public.
If you are married, the following forms of payment are available:
– 50% Husband-and-Wife Option
– 75% Husband-and-Wife Option
– 100% Husband-and-Wife Option
– 60-Month Guarantee
If you are not married, you will generally receive your benefit as a 60-Month Guarantee.
The Plan also provides a Level Income (Social Security) Option and Partial Lump Sum Option in conjunction with the 50% Husband-and-Wife Option and the 60-Month Guarantee. Disability pensioners are not eligible for the Level Income or Partial Lump Sum Options.
If the total value of your benefit is $1,000 or less, you will receive it as a lump sum distribution. If the value is at least $1,000 but less than $5,000, the benefit will be paid in a lump sum following your consent to the distribution.