Judge Smith has earned a service retirement benefit of $8,674.88 a month payable for life.

At retirement, Judge Smith’s accumulated contributions, plus interest, was $172,650. If Judge Smith and spouse both die before the sum of their retirement benefits equals $172,650, the excess would be paid to the person or persons Judge Smith had designated at the time he retired.

Upon Judge Smith’s death, the surviving spouse would receive a monthly benefit for life, unless remarried. The surviving spouse benefit is equal to half of Judge Smith’s monthly benefit less two percent for each full year of age difference. Because Judge Smith was 6 years older than the spouse, this would be 12 percent. Therefore, at Judge Smith’s death, the surviving spouse would receive a monthly benefit of $3,816.95 calculated as follows: 

$8,674.88 ÷ 2 x .88 = $3,816.95 

The surviving spouse benefit is calculated based on the maximum allowance and is payable upon the death of the retired member regardless of whether a survivor payment option is elected.

The chart below reflects the benefits available if Judge Smith elects the maximum allowance.

Let us assume that Judge Smith would like to provide additional income over the $3,816.95 per month provided under the surviving spouse benefit. The chart below shows how much each would each receive under the various payment options. Of course, the actual amounts of the payment options you can choose are based on many factors, such as your age, your beneficiary’s age, and when payments start. Before you retire, you will receive an estimate of the actual amounts payable to you.

These are only examples. Each member's benefit is calculated individually, and the actual amounts of your payment options are based on many factors, such as your age, your beneficiary’s age and when payments start.