Montana Judges' Retirement System Member Handbook 2000
Montana Judges' Retirement System Member Handbook 2000
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In our eReader you can find the full English version of the book. Read Montana Judges' Retirement System Member Handbook 2000 Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Montana Judges' Retirement System Member Handbook 2000
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1. OPTION 1 Option 1 provides the largest monthly benefit amount you may choose. Option 1 is also the basis for all other options. The benefit is computed using the defined benefit formula (see page 19). Mem- bers who choose Option 1 will receive the benefit for life. When the member passes away, the designated beneficiary will receive any balance left in the member's account. That account balance is the amount available at retirement less the total benefits paid to the member. All monthly bene...fit payments end upon the retiree's death.
NOTE : Once you choose an Option 1 retirement you may not make a change after cashing your first benefit payment.
23 2. Option 2 The benefit under Option 2 is less than under Option 1 , but your contingent annuitant will receive the same benefit after your death.
Option 2 is an annuity based on the lives of two people. Initially, the member receives the benefit for life, then the same benefit continues to the contingent annuitant for life. To compute your Option 2 benefit, multiply your Option 1 benefit by the Option 2 factor.
What to read after Montana Judges' Retirement System Member Handbook 2000?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Public Employees' Retirement Board to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
1. OPTION 1 Option 1 provides the largest monthly benefit amount you may choose. Option 1 is also the basis for all other options. The benefit is computed using the defined benefit formula (see page 19). Mem- bers who choose Option 1 will receive the benefit for life. When the member passes away, the designated beneficiary will receive any balance left in the member's account. That account balance is the amount available at retirement less the total benefits paid to the member. All monthly bene...fit payments end upon the retiree's death.
NOTE : Once you choose an Option 1 retirement you may not make a change after cashing your first benefit payment.
23 2. Option 2 The benefit under Option 2 is less than under Option 1 , but your contingent annuitant will receive the same benefit after your death.
Option 2 is an annuity based on the lives of two people. Initially, the member receives the benefit for life, then the same benefit continues to the contingent annuitant for life. To compute your Option 2 benefit, multiply your Option 1 benefit by the Option 2 factor.
What to read after Montana Judges' Retirement System Member Handbook 2000?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Public Employees' Retirement Board to read onlineMoreLess
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