Option 4 for Tier 1 members provides for a reduced lifetime monthly retirement allowance. Upon your death, a percentage of the reduced monthly allowance or a specific dollar amount will continue to be paid to your designated beneficiary. If you should die after the effective date of your retirement but before you receive your first full retirement payment, a benefit under Option 1 will be paid to your beneficiary. If you prefer that your beneficiary receive payment under Option 4 instead, you must initial the box on the form.