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Full Retirement / Straight Life

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Michigan Office of Retirement Services

Full Retirement / Straight Life

Payment Options - Full Retirement / Straight Life

If you choose this payment option, you receive the maximum monthly benefit payable throughout your lifetime. No ongoing pension payments or insurances are provided to your survivors. 

Calculate your annual straight life pension using your pension formula. Divide the product by 12 to calculate your monthly straight life benefit. 

Every calculation for other payment options (survivor, equated, and early reduced) begins with a calculation of your straight life pension.

Additional notes about the straight life option

  • If you're married and choose a straight life option, your spouse must waive their right to your pension by signing the Pension Election and Spousal Waiver (R0869C) form in the presence of a notary public. 
  • If you have the premium subsidy benefit, your spouse and other eligible dependents can enroll in the plan's insurances during your lifetime whether you choose the straight life or a survivor option.
  • If you have the Personal Healthcare Fund, you are not eligible for subsidized insurances through the retirement system. You, your spouse, and your dependents may enroll in the retiree health plan if you enroll immediately when you retire, but you will be responsible for the entire premium. If you disenroll from the plan at any time, you, your spouse, and your dependents will not be able to reenroll.
  • No monthly pension or insurances will continue to any beneficiary upon your death. If there are any pension contributions remaining on account when you die, your refund beneficiary designated at retirement receives the balance in a lump-sum payment.
  • If you marry after retirement, you may be able to switch to a survivor option. Certain conditions and restrictions apply.