I will be making that choice in the next couple years. Why not a 100% option? Are those numbers you posted for a guaranteed period?TIAA CREF has the typical joint survivor option whereby I can assign 50% or 75% of my payment to me survivor (spouse). TIAA also has another option whereby upon the death or me OR my wife, the payment changes to 2/3 (two thirds) of the original amount. I have run cash flows on all of these options with me passing at 5, 10, 15, 20 and the 25 year mark. The 2/3 option is better than the 50% or 75% in all cases. It seems like a no brainer - which is making me wonder if I am missing something?
50% survivor option monthly amount $4230 for annuity holder (me)
75% survivor option monthly amount $4136 for annuity holder.
2/3 option amount upon passing of wife or I $4475.
I searched quite a bit and can find no discussions on this 2/3 option. Anyone covered this ground before? Thank you!
Statistics: Posted by Dregob — Wed Feb 28, 2024 4:52 pm — Replies 4 — Views 238