Age 55 Commencement
Optional form | Amount of distribution per $1,000 of immediate single life annuity | Relative value |
Life Annuity | $1,000 per month | n/a. |
QJSA (Joint and 100 percent survivor annuity) | $900 per month ($900 per month for survivor annuity) | Approximately the same value as the Life Annuity. |
Lump sum | $74,764 | Approximately 45 percent of the value of the Life Annuity. |
Age 60 Commencement
Optional form | Amount of distribution per $1,000 of immediate single life annuity | Relative value |
Life Annuity | $1,000 per month | n/a. |
QJSA (Joint and 100 percent survivor annuity) | $878 per month ($878 per month for survivor annuity) | Approximately the same value as the Life Annuity. |
Lump sum | $99,792 | Approximately 66 percent of the value of the Life Annuity. |
Age 65 Commencement
Optional form | Amount of distribution per $1,000 of immediate single life annuity | Relative value |
Life Annuity | $1,000 per month | n/a. |
QJSA (Joint and 100 percent survivor annuity) | $852 per month ($852 per month for survivor annuity) | Approximately the same value as the Life Annuity. |
Lump sum | $135,759 | Approximately the same value as the Life Annuity. |
Age 55 Commencement
Optional form | Amount of distribution per $1,000 of immediate single life annuity | Relative value |
Life Annuity | $1,000 per month | Approximately the same value as the QJSA. |
QJSA (joint and 75 percent survivor annuity for a participant who is married) | $956 per month ($717 per month for survivor annuity) | n/a. |
Joint and 100 percent survivor annuity | $886 per month ($886 per month for survivor annuity) | Approximately the same value as the QJSA. |
Lump sum | $165,959 | Approximately the same value as the QJSA. |
Age 60 Commencement
Optional form | Amount of distribution per $1,000 of immediate single life annuity | Relative value |
Life Annuity | $1,000 per month | Approximately 94 percent of the value of the QJSA. |
QJSA (joint and 75 percent survivor annuity for a participant who is married) | $945 per month ($709 per month for survivor annuity) | n/a. |
Joint and 100 percent survivor annuity | $859 per month ($859 per month for survivor annuity) | Approximately 94 percent of the value of the QJSA. |
Lump sum | $151,691 | Approximately the same value as the QJSA. |
Age 65 Commencement
Optional form | Amount of distribution per $1,000 of immediate single life annuity | Relative value |
Life Annuity | $1,000 per month | Approximately 93 percent of the value of the QJSA. |
QJSA (joint and 75 percent survivor annuity for a participant who is married) | $932 per month ($699 per month for survivor annuity) | n/a. |
Joint and 100 percent survivor annuity | $828 per month ($828 per month for survivor annuity) | Approximately 93 percent of the value of the QJSA. |
Lump sum | $135,759 | Approximately 93 percent of the value of the QJSA. |
26 C.F.R. §1.417(a)(3)-1