In this episode, we will discuss the benefit formula, how contributions and interest work, benefit amounts, deductions and legislative updates. At retirement, in addition to selecting Plan A (maximum plan) or Plan B (survivor-ship plan), you may also elect to receive a one-time lump-sum distribution (cash payment) in addition to your monthly retirement benefit. Would you like to know more about distribution options? We will explain what makes members eligible for a Partial Lump-Sum Option payment.
