Using Optional Forms of Payment Results

Optional forms of payment results include quite a bit of information. Each form set includes several forms, each of which has:

• Identifying information about the nature of the form.

• One or several associated payment types. For example, a joint and survivor form includes both retiree and beneficiary amounts, while a level income option includes one amount to use until the retiree's social security retirement age and another amount to use after the retiree reaches social security retirement age.

• Four dollar amounts for each payment type:

  • Total amount before applying 415 limits.

  • Nontaxable portion of the pre-415 limits amount.

  • Total amount after applying 415 limits.

  • Nontaxable portion of the post-415 limits amount.

The following page (access this page under Pension, and then Review Calculations, and then Review Calculation Results) shows results for a single form in an optional form set:

This example illustrates calculation results for optional forms.

• Each form is identified by the form type, the number of years of guaranteed payments, and the percentage of the benefit that is continued to a surviving beneficiary.

• Forms can have multiple payment options. A joint and survivor form includes payments for the retiree and beneficiary payments for after the retiree dies.

• The system provides four values for each payment option: the total amount and any nontaxable portion of that amount, both before and after applying 415 limits.