Retirement Options

Overview

When you file your retirement application, you must elect one of five retirement “options.” Each option will affect your retirement benefit amount differently, but in all cases your benefit will be paid throughout your lifetime. The survivor benefits available to your eligible beneficiary(ies) may also be impacted by your election. Upon receipt of your first benefit payment, your retirement option becomes irrevocable, so consider your choices carefully. For assistance in better understanding the retirement options listed below, please contact VCERA.