Q: Can I change my annuity option after submitting the retirement application?

A: Yes, but the timeframe for making this change is brief – only 60 days after the date of your first payment or, if applicable, the date your lump sum payment was issued.

The official retirement estimate from the Department of Employee Trust Funds will list all annuity payment options available to you. No matter which option you select, your annuity is always paid for your entire life. Your annuity may also extend beyond your lifetime, depending on which option you select and how long you live.

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