1. 
   
2. Identify the five (5) options that are available for the pension distribution.
3. Explain the payout terms of each option (note: you may need to do some independent research to ascertain the payout terms).
4. Identify which option you would select and describe why you would select that option.
5. Describe why you would not select the other options.

Transcribed Image Text:

Pension Calculation Statement Your Beneficiary Information Beneficiary's Name KATHRYN FUNKHOUSER Beneficiary's Relationship to You Spouse Beneficiary's Birth Date Page 2 01-25-1954 To protect your privacy, your beneficiary's Social Security number isn't shown. To verify this information, call the PNC HR Service Center. Payment Option Information Following is a list of payment options that are available to you. See the Pension Option Descriptions for additional options that may be available. To make your elections, you must choose one of the options below. Regardless of the payment option you choose, you can't change your payment option after the date you begin receiving benefits. The Single Life Annuity is the automatic payment form if you're single, however, you may choose a different payment option. The 100% Joint and Survivor Annuity is the automatic payment form if you're married, however, you may choose a different payment option with your spouse's consent. Your Payment Options Benefits as of March 1, 2021 Lump Sum This option is a one-time payment. You'll receive your payment once your calculation data is finalized. Single Life Annuity 50% Joint and Survivor Annuity 100% Joint and Survivor Annuity Payable to You $187,739.50 Payable to Your Beneficiary Upon Your Death $0.00 $979.17 $0.00 $919.34 $459.67 $866.37 $866.37 10 Year Certain and Life Annuity Through February 1, 2031 After February 1, 2031 $944.51 $944.51 $944.51 $0.00 PNC Financial Services Group reserves the right to correct any errors. If it's determined at any time that the information provided on this statement conflicts with the benefit defined by The PNC Pension Plan, The PNC Pension Plan will prevail. Under the law, a plan must be operated in accordance with its terms. Pension Calculation Statement Your Beneficiary Information Beneficiary's Name KATHRYN FUNKHOUSER Beneficiary's Relationship to You Spouse Beneficiary's Birth Date Page 2 01-25-1954 To protect your privacy, your beneficiary's Social Security number isn't shown. To verify this information, call the PNC HR Service Center. Payment Option Information Following is a list of payment options that are available to you. See the Pension Option Descriptions for additional options that may be available. To make your elections, you must choose one of the options below. Regardless of the payment option you choose, you can't change your payment option after the date you begin receiving benefits. The Single Life Annuity is the automatic payment form if you're single, however, you may choose a different payment option. The 100% Joint and Survivor Annuity is the automatic payment form if you're married, however, you may choose a different payment option with your spouse's consent. Your Payment Options Benefits as of March 1, 2021 Lump Sum This option is a one-time payment. You'll receive your payment once your calculation data is finalized. Single Life Annuity 50% Joint and Survivor Annuity 100% Joint and Survivor Annuity Payable to You $187,739.50 Payable to Your Beneficiary Upon Your Death $0.00 $979.17 $0.00 $919.34 $459.67 $866.37 $866.37 10 Year Certain and Life Annuity Through February 1, 2031 After February 1, 2031 $944.51 $944.51 $944.51 $0.00 PNC Financial Services Group reserves the right to correct any errors. If it's determined at any time that the information provided on this statement conflicts with the benefit defined by The PNC Pension Plan, The PNC Pension Plan will prevail. Under the law, a plan must be operated in accordance with its terms.

Answer rating: 100% (QA)

It seems like you have included images in your message but Im unable to view them However I can still provide information on the available options for pension distribution and their payout terms 1 Lum... View the full answer