The beneficiary's benefit can be 100% of the amount the member was receiving prior to death. If the beneficiary should predecease the member, the member's benefit will increase to the maximum benefit as if no joint and survivor benefit had been elected. All benefits are calculated on the assumed mortality rate of the member and the beneficiary based on their respective ages upon retirement. Because this benefit covers two lifetimes, the benefit is reduced. Once retirement benefits begin, neither this option nor the beneficiary can be changed.

Sample 100% Joint and Survivor Benefit:
Assume that the member was hired before September 1, 2004, the member and spouse are both age 65, the member has worked for the City for 20 years and the member's average monthly salary is $3000.

The benefit calculation is: $3000 x .02 = $60.00 x 20 yrs. = $1200.00

With a 100% Joint and Survivor Option the member's benefit would be $1095.12. Upon the member's death the beneficiary's benefit would be $1095.12.