Pension Elections

The basics: The Single Life Allowance pays the highest monthly pension and ends when you die. A Joint Allowance pays a smaller monthly pension and keeps paying your spouse for life. Pension elections are one time and irreversible and will impact your spouse. Can I change my option later? NYSLRS gives you up to 30 days after the last day of your retirement month to change your payment option. After that, the beneficiary on a joint option stays in place for life. That makes thi