You can purchase Deferred Lifetime Income for yourself, or for yourself and a spouse. Plus, you can choose a beneficiary(ies) to receive any money you used to purchase Deferred Lifetime Income (the premium) that has not already been paid to you by the time of your death.
Single Life deferred income annuity
Binh: Single Life annuity example
Binh uses $75,000 of the 403(b) Plan account balance to choose the Single Life option.
Joint & Survivor deferred income annuity
Drake and Jia: 50% Joint & Survivor annuity example
Drake uses $100,000 of the UC DC Plan account balance to purchase the 50% Joint & Survivor option.