Available to anyone who is retirement-eligible when his or her employment with Rockwell Automation ends
This is the normal or default form of payment if you’re single when you retire and you don’t choose a different payment option.
How Long Benefits Are Paid
- A reduced monthly benefit is paid to you for your lifetime with benefit payments guaranteed for 10 years.
- If you die before receiving payments for 10 full years, your named beneficiary will receive the same payment amount for the remaining months.
- Payments to your beneficiary will stop after payments have been made for a total of 10 years (payments to you plus payments to your beneficiary).
Why Choose It
- You want to receive a monthly benefit for your lifetime.
- You want to provide a beneficiary with a limited number of payments if you were to die within 10 years of when your payments start.
NOTE: If you’re married when payments begin, you may be required to submit spousal consent to choose this payment option. This payment option is not available to employees who leave Rockwell Automation before they are eligible for early retirement.