§ 21471 Retirement Allowance Without Beneficiary

• •If you choose this retirement plan, you get the biggest monthly payment while you're alive.
• •After you die, no one else gets any money from this plan, and no leftover money is given back.
• •This rule only applies if you retire on or after January 1, 2018.

A person retires in 2020 and picks this plan to get the highest monthly payment.

They get the biggest check every month while they're alive, but when they pass away, their family doesn't get any more money, and no extra cash is returned.