MMC Benefits Handbook
Normal Form of Payment
If the Present Value of your vested Accrued Benefit exceeds $1,000, you will receive monthly benefit payments in your normal form unless you elect an optional form of payment. Your normal form of payment depends on your marital status on your Benefit Commencement Date.
If you have a spouse on your Benefit Commencement Date, your normal form of payment will be a 50% contingent annuity with your Spouse named as the designated survivor. If you have a Spouse and you wish to elect a different form or name another designated survivor, you must obtain your Spouse's written, notarized consent to your new election. However, if your Spouse is your designated survivor under the contingent annuity form of payment, you can elect either a 66-2/3%, 75%, or 100% contingent annuity without your Spouse's consent.
If you do not have a Spouse (i.e., if you are single, or have a Domestic Partner) on your Benefit Commencement Date, your normal form of payment will be a single life annuity. If you have a Domestic Partner and you wish to elect a different optional form of payment or designate someone other than your Domestic Partner as your designated survivor, you are not required to obtain your Domestic Partner's consent.
If you fail to elect a form of payment when you commence your benefit and there is no Plan record of a Spouse, or Domestic Partner for you, your benefit will be paid in the form of a single life annuity. In the event that the Plan later determines that you had a Spouse on your Benefit Commencement Date or if you or a Domestic Partner provide evidence that that you had a Domestic Partner on your Benefit Commencement Date, the Plan will retroactively change your form of payment to a 50% Contingent Annuity and the monthly benefit amount will be adjusted by the Plan's actuary.