The six plans
Single Life
The largest monthly benefit, for your lifetime only. Monthly payments stop when you die. If any of your own contributions and interest haven't been paid out yet, your beneficiary gets the rest as a lump sum.
Handbook p. 50, The Single Life Benefit Plan; RSMo 169.070.3(1) ('option 1')Joint-and-Survivor 100%
A smaller benefit for you for life. After you die, your one beneficiary gets the same amount (100%) for the rest of their life.
Handbook p. 51, Joint-and-Survivor 100% Benefit Plan; RSMo 169.070.3 Option 2Joint-and-Survivor 75%
A bit more for you than the 100% plan. After you die, your beneficiary gets 75% of your amount for life.
Handbook p. 51, Joint-and-Survivor 75% Benefit Plan; RSMo 169.070.3 Option 3Joint-and-Survivor 50%
More for you than the 75% plan. After you die, your beneficiary gets half (50%) of your amount for life.
Handbook p. 51, Joint-and-Survivor 50% Benefit Plan; RSMo 169.070.3 Option 4Term-Certain 120-Month
A slightly smaller benefit for your whole life, with 120 monthly payments guaranteed. If you die before 120 payments, your beneficiary gets the rest.
Handbook p. 52, Term-Certain 120-Month Benefit Plan; RSMo 169.070.3 Option 5Term-Certain 60-Month
Almost the full amount for life, with 60 monthly payments guaranteed. If you die before 60 payments, your beneficiary gets the rest.
Handbook p. 52, Term-Certain 60-Month Benefit Plan; RSMo 169.070.3 Option 6Six plans: Single Life, Joint-and-Survivor 100%, 75% and 50% (with pop-up), and Term-Certain 120-month and 60-month. The plan can't be changed after the retirement date. Handbook pp. 50-55, Benefit Plans
No published factors
PSRS publishes no Joint-and-Survivor or Term-Certain factors. Reductions depend on the plan, your age and (for Joint-and-Survivor) your beneficiary's age. Handbook p. 50, The Joint-and-Survivor Benefit Plans; p. 52, The Term-Certain Benefit Plans
PSRS doesn't publish the factors that set how much less you get under the Joint-and-Survivor or Term-Certain plans. They depend on your age and, for Joint-and-Survivor, your beneficiary's age. The only figures are one sample in the handbook.
What we use: no amount for those plans. We show PSRS's one sample, labeled as a sample, and suggest asking PSRS for an estimate.
PSRS's one published sample
This is PSRS's own illustration for one member: age 58, beneficiary age 59, 28 years, $4,590 monthly average. The percentages won't be the same at other ages. Don't use them for your own plan.
Handbook p. 56, Sample Monthly Benefits; p. 57, Sample lifetime benefit if PLSO is selected| Plan | You get | % of Single Life | Beneficiary gets after you die |
|---|---|---|---|
| Single Life | $3,213 | 100% | — |
| Joint-and-Survivor 100% | $2,958 | 92.1% | $2,958 |
| Joint-and-Survivor 75% | $3,018 | 93.9% | $2,263 |
| Joint-and-Survivor 50% | $3,080 | 95.9% | $1,540 |
| Term-Certain 120-Month | $3,190 | 99.3% | $3,190 for the rest of the term |
| Term-Certain 60-Month | $3,207 | 99.8% | $3,207 for the rest of the term |
The same sample with a PLSO
A Partial Lump Sum Option reduces every plan. PSRS's sample:
| Plan | 12-month PLSO $38,556 lump sum | 24-month PLSO $77,112 lump sum | 36-month PLSO $115,668 lump sum |
|---|---|---|---|
| Single Life | $2,977 | $2,741 | $2,505 |
| Joint-and-Survivor 100% | $2,740 | $2,523 | $2,306 |
| Joint-and-Survivor 75% | $2,796 | $2,574 | $2,353 |
| Joint-and-Survivor 50% | $2,853 | $2,627 | $2,401 |
| Term-Certain 120-Month | $2,955 | $2,721 | $2,487 |
| Term-Certain 60-Month | $2,971 | $2,736 | $2,500 |
Rules to know
- Your Joint-and-Survivor beneficiary. Only one person with an insurable interest (spouse, child or parent automatically qualify). Can be changed only if a spouse beneficiary dies or you divorce, and you remarry and name the new spouse within one year (benefit recalculated). Handbook p. 51, Naming a Beneficiary for Lifetime Monthly Benefits Under the Joint-and-Survivor Plans
- Pop-up. Joint-and-Survivor: if the beneficiary dies first, the benefit pops up to the Single Life amount adjusted for increases since retirement; also on divorce from a spouse beneficiary if the decree gives you sole rights. Term-Certain: pop-up only on divorce, never on the beneficiary's death. Handbook p. 51, 'Pop-up' Provision; p. 53, 'Pop-up' Provision
- COLAs. COLAs continue to Joint-and-Survivor and Term-Certain beneficiaries, up to 80% of the original benefit amount. Handbook pp. 54-55, Table: A Comparison of PSRS Benefit Plans
- Single Life lump sum. Under Single Life, any unused balance of your contributions and interest at death is paid to your beneficiary; it is usually used up about five years after retirement. Handbook p. 50, The Single Life Benefit Plan
What the handbook says
- You choose from six plans: Single Life; Joint-and-Survivor 100%, 75% or 50%; and Term-Certain 120 months or 60 months. You can't change the plan after your retirement date.Handbook pp. 50-53, Benefit Plans
- Single Life pays the most but stops at your death. Any unused contributions and interest go to your beneficiary in a lump sum. They're usually used up about five years after retirement.Handbook p. 50, The Single Life Benefit Plan
- Joint-and-Survivor plans pay you less for life and continue 100%, 75% or 50% to one beneficiary for their life. If the beneficiary dies first, your benefit 'pops up' to the Single Life amount plus increases.Handbook p. 51, Joint-and-Survivor Plans; 'Pop-up' Provision
- Term-Certain plans take a small reduction. If you die before 120 (or 60) monthly payments, your beneficiary gets the rest of them. The term starts with your first payment.Handbook pp. 52-53, The Term-Certain Benefit Plans
- PSRS's sample (retiree 58, beneficiary 59, $3,213 Single Life): J&S 100% $2,958; J&S 75% $3,018; J&S 50% $3,080; Term-Certain 120 $3,190; Term-Certain 60 $3,207.Handbook p. 56, Sample Monthly Benefits
- PSRS doesn't publish plan factors; reductions depend on your age and your beneficiary's age. Ask PSRS for an estimate with your beneficiary's birth date.Handbook p. 50; p. 56, Benefit Estimates
- The Partial Lump Sum Option (PLSO) pays 12, 24 or 36 times your Single Life benefit up front in exchange for a permanently lower monthly benefit. You qualify at age 63 with 8 years, at 33 years, or with age plus service of 86 or more.Handbook p. 49, Partial Lump Sum Option (PLSO) Benefits
- PLSO example from PSRS: a 61-year-old with a $3,213 benefit taking 12 months gets $38,556 and then $3,213 x .9236 = $2,968 a month.Handbook p. 49, Examples
- Most or all of a PLSO is taxable in the year you get it unless you roll it over. PSRS must withhold 20% for federal tax on the taxable part paid to you.Handbook pp. 73-74, Income Taxes on the Partial Lump Sum Option
Questions
How many payment plans does PSRS have?
Six: Single Life, Joint-and-Survivor 100%, 75% and 50%, and Term-Certain 120-month and 60-month.
How much smaller are the survivor plans?
PSRS doesn't publish the factors. The cut depends on the plan, your age and, for Joint-and-Survivor, your beneficiary's age. PSRS's Benefit Estimator and your estimate letter show your amounts.
Can I change my plan later?
No. You can't change your plan after your retirement date. A Joint-and-Survivor benefit can pop up to the Single Life amount if your beneficiary dies first.
Source: PSRS Member Handbook, 2026-2027 (as of September 2026), pp. 49, 50, 51, 52, 53, 54, 55, 56, 57, 73, 74; RSMo 169.070. Last reviewed .