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Retirees - Voluntary Suspension of Payments

If you have retired but want to stop your benefit now so you can receive a higher early retirement benefit later, or receive a late retirement increase, you may elect a voluntary suspension of payments.  Your spouse, however, must agree in writing by signing the Voluntary Suspension of Retirement Benefits Form

Your early (or late) retirement reduction (or increase) factor will be adjusted when you resume your pension payments.  This adjustment to the early (late) retirement reduction (increase) factor is made only once no matter how many times your benefit payments are suspended, whether or not the suspension is voluntary .   For this reason, the first time your benefits are suspended, even if you are working in Alaska, it is referred to as a "voluntary" suspension of benefits.

To resume your pension payments, submit a Revocation of Voluntary Suspension form.

For detailed information about voluntary suspension of benefits, please review the Summary Plan Description or your Plan Booklet.

 

 

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