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Survivor Option
With this option, you elect to receive a lower monthly benefit during your lifetime so that your survivor can receive a monthly benefit after your death. You name your survivor when you apply for retirement. You can elect this option with the Partial Lump-Sum Option Payment (PLOP).
You may choose a whole percentage, between 10 percent and 100 percent, of your benefit to go to your survivor. Your benefit amount is based on this percentage, your age and the age of your survivor at retirement.
Note: Internal Revenue Service regulations limit the percent that may go to a non-spouse survivor.
You may revert to the Basic Benefit or name a new survivor if:
- Your survivor dies.
- Your survivor is your spouse and you divorce with fewer than 20 years of marriage.
- Your survivor is your spouse, you divorce after 20 or more years of marriage and your survivor either dies, remarries or consents in writing to a change in the benefit.
- You provide VRS a written consent from your survivor giving up claim to a benefit along with proof of your survivor’s good health.
Note: If VRS has an Approved Domestic Relations Order (ADRO) on file, your benefit must be paid as directed by the ADRO.
Let myVRS Estimate Your Benefit
You can create estimates using different benefit payout options through your personal myVRS member online account. Go to myVRS Log-in Page.
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