Using Form Codes

The form code indicates the form in which a pension is paid—for example, a certain only installment form or a joint and survivor annuity form.

The following table contains the form codes with their full names, the required options for each code, and a description of the form of payment that each code specifies.

Form Code	Options Necessary?	Description
CO Certain Only Installment	Years Certain: Y Pct Continued: NA	Amount is paid for a specified number of years and no longer. If the participant dies, any remaining payments are made to a beneficiary.
JS Joint & Survivor Annuity	Years Certain: O Pct Continued: Y	One amount is paid until the participant dies, at which time another payment—reduced to the percent continued—begins and continues until the beneficiary dies.
LIFE Life Annuity	Years Certain: O Pct Continued: NA	A periodic amount is paid for the life of the participant.
LIO Level Income Option	Years Certain: O Pct Continued: O	A monthly amount is paid. It is reduced at social security retirement age by the estimated amount of money to be received from social security.
LTS Last To Survive Annuity	Years Certain: O Pct Continued: Y	Similar to a joint and survivor annuity, except that the percent continued amount is payable to the survivor when either the retiree or the spouse dies.
LUMP Lump Sum	Years Certain: NA Pct Continued: NA	One-time payment.
POP Pop Up Annuity	Years Certain: O Pct Continued: Y	Similar to a joint and survivor annuity, except that the participant's otherwise reduced benefit "pops up" to the single life annuity level if the beneficiary predeceases the participant.
REV Reversionary Annuity	Years Certain: O Pct Continued: NA	The entire benefit is paid as a life annuity to a beneficiary upon the retiree's death. The system's actuarial calculation of a reversionary annuity assumes that the benefit is forfeited if the beneficiary predeceases the retiree. If your plan rules differ, use a different method for calculating this optional form. If you enter a number of years certain, the certain period starts when the beneficiary begins receiving payments.
SPJS Spouse Demonstration Joint & Survivor	Years Certain: O Pct Continued: Y	No actual benefit. This is informational only to show the benefit that a spouse loses if the participant names a non-spouse beneficiary.

Form Code

Options Necessary?

Description

Certain Only Installment

Years Certain: Y

Pct Continued: NA

Amount is paid for a specified number of years and no longer. If the participant dies, any remaining payments are made to a beneficiary.

Joint & Survivor Annuity

Years Certain: O

Pct Continued: Y

One amount is paid until the participant dies, at which time another payment—reduced to the percent continued—begins and continues until the beneficiary dies.

LIFE

Life Annuity

Years Certain: O

Pct Continued: NA

A periodic amount is paid for the life of the participant.

LIO

Level Income Option

Years Certain: O

Pct Continued: O

A monthly amount is paid. It is reduced at social security retirement age by the estimated amount of money to be received from social security.

LTS

Last To Survive Annuity

Years Certain: O

Pct Continued: Y

Similar to a joint and survivor annuity, except that the percent continued amount is payable to the survivor when either the retiree or the spouse dies.

LUMP

Lump Sum

Years Certain: NA

Pct Continued: NA

One-time payment.

POP

Pop Up Annuity

Years Certain: O

Pct Continued: Y

Similar to a joint and survivor annuity, except that the participant's otherwise reduced benefit "pops up" to the single life annuity level if the beneficiary predeceases the participant.

REV

Reversionary Annuity

Years Certain: O

Pct Continued: NA

The entire benefit is paid as a life annuity to a beneficiary upon the retiree's death. The system's actuarial calculation of a reversionary annuity assumes that the benefit is forfeited if the beneficiary predeceases the retiree.

If your plan rules differ, use a different method for calculating this optional form. If you enter a number of years certain, the certain period starts when the beneficiary begins receiving payments.

SPJS

Spouse Demonstration Joint & Survivor

Years Certain: O

Pct Continued: Y

No actual benefit. This is informational only to show the benefit that a spouse loses if the participant names a non-spouse beneficiary.

The following notes pertain to the table above:

The Options Necessary? column indicates whether the Years Certain and Pct Continued options are necessary (Y), not applicable (NA), or optional (O).
Any time that you specify a number of years in the Years Certain field, any payments remaining after the participant dies are paid to the beneficiary.
There is no separate form code for certain and continuous forms of payment. You create these forms by adding years certain criteria to other forms. Typically, you add years to a single life annuity, but you may also add years to a joint and survivor form or other forms.