This law section describes how annuities are calculated for members of the Defined Benefit Supplement Program when they retire. If a member chooses a single life annuity, it's based on their age at retirement. For a joint and survivor annuity, it's based on both the member's and beneficiary's ages. There are specific rules about whether members can choose these annuities, depending on other benefits they may have selected. Additionally, if a member's annuity is already in effect when their disability allowance ends, it will continue without interruption if they start receiving retirement benefits right after. Lastly, any previous beneficiary designations don't affect these annuities.

If a member decides they want to get their benefits from the Defined Benefit Supplement Program as an annuity, the money in their account will be moved over to the Annuitant Reserve.

If a retired member decides to return to work, their current retirement annuity will stop, and the value of their retirement account will be adjusted accordingly. When they retire again, they can either receive an ongoing annuity or a one-time lump-sum payment based on their remaining retirement account balance.

This law is about what happens when a member of a pension plan wants to receive their retirement benefits as a joint and survivor annuity, meaning their benefits continue to someone else after they pass. Once the benefits start, the chosen beneficiary can't be changed unless specific sections say otherwise. There's a rule on how the benefits are split among multiple beneficiaries, and certain annuity types can't be chosen if the beneficiary is much younger, unless they're the member's spouse or ex-spouse. If the member dies first, the beneficiary can choose someone to receive any remaining benefits. If the beneficiary is a trust, and the trust is valid, they can also pick someone new to receive benefits. But if the trust isn't valid anymore, that choice is void and the original beneficiary's rights apply.