Iowa Admin. Code r. 661-402.207

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 661-402.207 - Optional retirement benefits

Members of the system who retire under a service retirement may elect to receive one of the following optional retirement benefits and have the optional retirement benefit or a designated fraction of the benefit paid to the member's beneficiary:

1. Straight life annuity.

2. Straight life annuity with five years certain.

3. Straight life annuity with ten years certain.

4. Joint and 50 percent survivor annuity.

5. Joint and 75 percent survivor annuity.

6. Joint and 100 percent survivor annuity.

7. Single life annuity with a designated lump sum.

For the purposes of this rule, a "beneficiary" means a member's spouse, child, or dependent parent.

Iowa Admin. Code r. 661-402.207