The Retirement Commission approved changes to the "factors" associated with the pension benefit payment options. These changes were based on a periodic review and analysis of the actual experience of the retirement fund which led to a revision of the actuarial "factors"; this is the first revision since 2009. These changes will take effect for any SERS retiree on or after 1/1/2020 (this will not impact current retirees).
The "factors" impact the reduction to your pension if you elect to continue your pension to a survivor upon your death. If you choose to continue pension payments to a