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Phone: 800-562-8019, 704-924-7400
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We just helped a representative review a local teacher’s plans for submission to the NC Retirement System. She had misunderstood the option she had chosen and was about to send in the paperwork.
She thought the Joint & Survivor Payout Option would pay both she and her husband approximately $1900 per month. In fact, the Joint & Survivor choice would pay her $1900 per month for as long as she lived and at her death would pay her husband (if he was still living) $1900 per month.
Our representative helped her understand her error, then did an analysis for her.
Her maximum payout option choice would give her $2400 per month. Our Pension Maximization insurance plan would cost her $180 per month and would pay her husband/beneficiary $1900 per month upon her death. She could take the Maximum Benefit, purchase the insurance…and have more money.