You've worked so hard to get here--understand your options at retirement.
At retirement with the JPC Retirement Fund, your option choice form nullifies any previous option choice forms tied to your account. After retirement, you may not change your designated survivor. [However, if your survivor predeceases you, you may request to "pop-up" to the Option 1 Benefit (this is subject to board approval)].
Option 1: Single Life Annuity with 50% Joint Life with Age Restriction for SPOUSE:
The Probate Judge will receive the maximum benefits provided by law. At the death of the member, the designated survivor will receive one-half of the amount the member was receiving. Such benefits will become effective upon the spouse reaching age 60.
Option 2: 100% Joint Life Annuity – No Age Restriction for SPOUSE or SURVIVOR:
The Probate Judge will receive a monthly retirement benefit based on the judge’s age and the age of the judge’s designated survivor at the time of retirement. Upon the death of the member, the designated survivor will receive the same amount in retirement benefits that was being paid to the member. Under this option, the designated survivor does NOT have to attain the age 60. Should a married judge choose to designate a survivor who is not their spouse, the spouse must consent by written agreement with notarized signature.
Definition: Designated Survivor - The designated survivor shall be a person with whom the member has a familial relationship through blood, marriage or adoption.
Active and Vested members of the Fund may designate a survivor prior to retirement to take effect in the event that the member passes away before retirement. In all cases, the survivor's benefits will commence at the time the Judge would have been 60 years old. See Pre-Retirement Survivor Designation for more information.