Remember me on this computer. What is it supposed to do?

I've tried logging into my Sitefinity web site with the Remember me on
this computer checkbox checked and unchecked. Either way I still get the
same cookies created on my browser. And if I shut down the browser and
reopen it I'm still logged in. The session timeout appears to be set by
the Administration-Settings-Advanced-Security-AuthCookieTimeout
regardless of whether the checkbox is checked or not. And when I log out
and come back to the login screen the username field is not
pre-populated with the username.

So what exactly is the point of the  Remember me on this computer checkbox? What is it supposed to do?