Results for Pension

Choosing an Automatic Payment Option

Before you retire, you decide how you want your pension benefit paid to you—as monthly payments or a lump-sum payment. Some choices are considered “normal forms,” such as:

 Pension Payment Options
10-Year Certain and Life Annuity

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.

Joint and Survivor Annuity

Available to everyone who is married

The 50% Joint and Survivor Annuity is the normal or default form of payment if you are married and you don’t choose a different payment option (with your spouse’s consent).

How Long Benefits Are Paid

  • A reduced monthly benefit is paid to you for your lifetime.
  • If you die before your spouse, he or she will receive a monthly benefit for the rest of his or her life. If your spouse dies before you, no benefits will be paid to a new beneficiary when you die. In addition, once your payments start, you cannot change your payment option—even if your spouse dies before you or you get divorced.
  • The monthly benefit amount is calculated based on your age and your spouse’s age when your benefit payment is to start, and you choose the monthly amount your spouse is to receive after you die, such as 50% or 75% of your monthly benefit. Refer to the personalized Pension Calculation Statement you will receive in your Pension Benefit Commencement Kit for the benefit amounts.

Why Choose It

  • You are married at the time you elect your benefit.
  • You want to provide ongoing monthly benefits to your spouse for his/her lifetime.
  • Your spouse will not consent to a different form of payment.