Short answer: Option 1 is the full formula amount, paid for your life. The other options change that amount so someone can keep getting paid after you die, and each can add a self-funded COLA. WRS publishes no option factors, so only Option 1 is shown in dollars here. The choice is final once payments begin. See survivor benefits, or estimate your Option 1 benefit.
Options 1, 2, 2P, 3, 3P, 4A, 4B and 5, each with or without a self-funded COLA. The choice is final once payments begin. Under Options 2, 2P, 3 and 3P you cannot change the beneficiary after retirement, even after death or divorce. Handbook pp. 17-18, Benefit Options and Benefit Payout Options; W.S. 9-3-420(a)-(c)
Option 1: Single lifetime benefit with beneficiary
$3,000.00Monthly benefit for your life. At your death, any excess of your account balance over benefits paid goes to your beneficiaries (more than one allowed; a trust is allowed). This is the formula amount (the normal form).
Handbook p. 17, Benefit Options; Actuarial valuation (2026) p. 53, Option 1Option 2: 100% joint and survivor
less than $3,000Check with WRSReduced benefit for your life; 100% continues for your one primary beneficiary's life. Contingent beneficiaries allowed. The primary beneficiary cannot be changed.
Handbook p. 17, Benefit Options; W.S. 9-3-420(a)(i)Option 2P: 100% joint and survivor with pop-up
less than $3,000Check with WRSLike Option 2, but if your beneficiary dies first your benefit goes back up to the Option 1 amount (without the cash refund feature). No contingent beneficiaries.
Handbook p. 17, Benefit Options; Actuarial valuation (2026) p. 53, Option 2POption 3: 50% joint and survivor
less than $3,000Check with WRSReduced benefit for your life; 50% continues for your one primary beneficiary's life. Contingent beneficiaries allowed. The primary beneficiary cannot be changed.
Handbook p. 17, Benefit Options; W.S. 9-3-420(a)(ii)Option 3P: 50% joint and survivor with pop-up
less than $3,000Check with WRSLike Option 3, but your benefit goes back up to the Option 1 amount (without the cash refund feature) if your beneficiary dies first. No contingent beneficiaries.
Handbook p. 17, Benefit Options; Actuarial valuation (2026) p. 53, Option 3POption 4A: 10-year certain
less than $3,000Check with WRSReduced benefit for your life, guaranteed for 120 payments. If you die within 10 years, your beneficiaries get the rest of the 10 years; nothing after that. Multiple beneficiaries and trusts allowed.
Handbook p. 17, Benefit Options; W.S. 9-3-420(a)(iii)Option 4B: 20-year certain
less than $3,000Check with WRSReduced benefit for your life, guaranteed for 240 payments. If you die within 20 years, your beneficiaries get the rest of the 20 years.
Handbook p. 17, Benefit Options; Actuarial valuation (2026) p. 53, Option 4bOption 5: Single lifetime benefit without beneficiary
a little more than $3,000Check with WRSThe largest possible benefit, for your life only. Nothing is paid to anyone after your death; remaining funds stay with WRS.
Handbook p. 17, Benefit Options; W.S. 9-3-420(a)(iv); Actuarial valuation (2026) p. 53, Option 5
WRS doesn't publish how much each option reduces your check. Your online account or a WRS counselor can show the amounts.
Why
No option factors (Options 2-5) are published, so our calculator shows only the Option 1 amount.
You can add a self-funded COLA to any option. The self-funded COLA
From the sources
- WRS offers eight payment options: Option 1 (life, with any unpaid account balance to your beneficiaries), Option 2 (100% joint and survivor), 2P (100% with pop-up), Option 3 (50% joint and survivor), 3P (50% with pop-up), 4A (10 years certain), 4B (20 years certain) and Option 5 (largest benefit, nothing after death).Handbook p. 17, Benefit Options
- With a pop-up option (2P or 3P), if your beneficiary dies before you, your payment rises to the Option 1 amount.Actuarial valuation (2026) p. 53, Options 2P and 3P
- Your choice is final once payments start. Under Options 2, 2P, 3 and 3P you can't change your beneficiary later, even after a divorce or the beneficiary's death.Handbook p. 18, Locked-In Beneficiaries; W.S. 9-3-420(b)
- Check with WRSWRS doesn't publish how much each option lowers your check. Log in to your account or ask a WRS counselor for the amounts.Handbook p. 10, Get an Estimate, and p. 18, Schedule a Consultation
Questions
Which option pays the most?
Option 5, the single life benefit with no beneficiary: nothing is paid to anyone after you die.
Can I change my option later?
No. Your choice is final once payments start. Under Options 2, 2P, 3 and 3P you can't change your beneficiary, even after a divorce or death.
What is a pop-up?
Under 2P or 3P, if your beneficiary dies before you, your payment goes up to the Option 1 amount.
How much less do the survivor options pay?
WRS doesn't publish its factors. It depends on your age and your beneficiary's. Your online account or a WRS counselor can show each amount.
Source: WRS Public Employee Pension Plan Handbook, Updated August 2026, pp. 10, 17-18. Also: Actuarial valuation (2026); W.S. §§ 9-3-420, 9-3-421. Last reviewed .