Option 2
PERS pays you this benefit over your lifetime. After you die, your surviving will receive, for life, the monthly benefit you were receiving at the time of your death. You may change your beneficiary only during the 60 days following the date of
your first benefit payment. If you outlive your beneficiary, your benefit does not change, and all benefits stop when you die. If you name a non-spouse beneficiary that is more than ten years younger than you, the benefits you and your beneficiary will receive may be adjusted to comply with the IRS’ required minimum distributions rules.
Note: You must provide verification of age for your beneficiary. Your beneficiary must be a person (i.e., not your estate or a charity). The benefit reduction is based upon the age difference between you and your beneficiary. For example, if your beneficiary is a grandchild, your benefit will be substantially lower than if your beneficiary is someone closer to your age because benefits will probably be payable for a longer period.
Related
topics:
Designation of Beneficiary
Domestic Partnerships
Survivor Benefits Following Retired Member's Death
One or more persons, trusts, or organizations a member or participant names to receive plan benefits, if any, upon the death of the member or participant. will receive, for life, the monthly benefit you were receiving at the time of your death. You may change your beneficiary only during the 60 days following the date of
your first benefit payment. If you outlive your beneficiary, your benefit does not change, and all benefits stop when you die. If you name a non-spouse beneficiary that is more than ten years younger than you, the benefits you and your beneficiary will receive may be adjusted to comply with the IRS’ required minimum distributions rules.