Educate Yourself

PARTIAL LUMP-SUM OPTION PLAN (PLOP)

WHO IS ELIGIBLE?

You are eligible to participate in the Partial Lump-Sum Option Plan if you meet the following criteria. You must:

have 30 years of creditable service or 10 years of creditable service and attain age 60 (not early retirement); and
not retire with disability benefits.

When applying for retirement, you may choose a retirement plan that provides for survivorship benefits. If you elect a survivorship option, you may also choose to receive a lump-sum distribution. Once the lump-sum amount is determined, the reduced monthly benefit will be calculated based on your age and the age of your beneficiary(ies). If you elect a survivorship option and a PLOP distribution, at your death, the beneficiary's benefit will be based on your reduced benefit.

Choose Sub-Category

Fast Facts
Who Is Eligible?
Distribution Options
Distribution Example
Benefit Reduction Table
Tax Implications