Selecting a Plan of Payment

Changing a Plan of Payment
After retirement, the opportunity to select another plan of payment depends on the plan chosen at retirement. Only certain circumstances allow this opportunity, as noted below. You should keep these circumstances in mind as you select your plan of payment at retirement.

Single Life Annuity
If you choose a Single Life Annuity plan at retirement and later marry, you may change the plan to a Joint and Survivor Annuity with your spouse as beneficiary within the first year of marriage. This is the only circumstance in which you may change a Single Life Annuity plan. A copy of your marriage certificate must accompany the application for the Joint and Survivor Annuity. The new selection is effective on the date the application is received by STRS Ohio and the new benefit amount is paid the first of the following month.

Joint and Survivor Annuity With Reversion
If you select this choice, you may revert to the Single Life Annuity plan of payment if:

• Your beneficiary dies before you. A copy of the death certificate must accompany the application to revert to the Single Life Annuity plan. The effective date of the new benefit amount is the first day of the month following the beneficiary’s death.

• Your marriage to the beneficiary terminates, provided that you have the written consent of the former spouse or the appropriate court documentation authorizing such a change. The new selection is effective on the latter of the date the application is received by STRS Ohio or the date of divorce. The new benefit amount is paid the first of the following month.

• A non-spouse is named at retirement and you later marry. You may reselect your spouse as the new beneficiary within the first year of your marriage.

Joint and Survivor Annuity Without Reversion
With this choice you may never revert to a Single Life Annuity payment. Neither the plan of payment nor the primary beneficiary may be changed after retirement. You maintain this plan of payment even if your beneficiary dies or your marriage to the beneficiary terminates.

Annuity Certain
This plan of payment cannot be changed after retirement becomes effective. However, you may name a different beneficiary for the remaining years on the guaranteed period.