• Payment Options

    You must choose your payment option when you apply for your pension. After your retirement effective date, you will not be able to change your election or your designated survivor beneficiary for any reason. Your pension is a lifetime benefit paid monthly and it cannot be cashed out once you retire.

    Read carefully, ask questions, estimate under various scenarios, talk with your family - but do it before you sign your application papers.


    Click on a topic below for more information:

    Remember, all pension calculations begin by figuring your straight life amount. Your straight life amount is then adjusted, depending on which plan or option you are choosing.


The pension formula (FAC times 1.5% times YOS) calculates your straight life benefit. If you elect the straight life pension, you receive the maximum monthly benefit payable throughout your lifetime.
If you qualify for the early reduced retirement, we first calculate your straight life benefit. Then we apply the one-half percent per month and fraction of a month reduction to arrive at your actual monthly pension.
You may choose a survivor option, which pays you less but continues monthly pension payments and health, dental, and vision insurance coverage to your beneficiary if you die.
You could also choose the equated plan if you want your income to remain relatively level both before and after your social security payments begin.
You can choose any of the survivor options and can still choose the equated plan. These are known as the 100% equated, 75% equated, and 50% equated plan options.

Recommended Resources For Help In Estimating Your Pension

Benefit Estimator: 
This handy online calculator lets you key in your age, wage, and service information, and quickly estimates your future monthly pension. 

Preretirement Orientation Seminars:
If you're within three to five years of retirement you may wish to attend a preretirement seminar sponsored by the Civil Service Commission. Experienced ORS representatives will fully explain the plan and the process before fielding questions from the audience.