What is the difference between Retirement distributions from New York State and City Education, and from New York State and City Education (optional retirement program)?

The New York State and City Education retirement provides the largest monthly payment for life, but provides no continuing payment to a beneficiary.

An Option Selecting an option means a lower monthly benefit for you, but it can, depending on the option you select, provide a payment to a beneficiary upon your death. Options serve much like life insurance coverage and might be a wise choice if you are unable to obtain adequate private insurance. How much lower your monthly benefit would be compared to the Maximum depends on the payment type you select and, in some cases, the beneficiary you name.

Maximum or an Option: Choosing a Benefit Payment Right