TRB: New Annuity Factors - Potential Retirees

New Annuity Factors - Potential Retirees

 

The Teachers’ Retirement Board adopted new annuity factors for the Supplemental Account and the Voluntary Account to become effective September 1, 2017 at the regular Board meeting in April, 2016.

 

The new annuity factors are available in the 1% Supplemental and/or Voluntary Account (Retiring on or after September 1, 2017 (PDF 48KB) bulletin on the Publications page. 

 

The annuity factors, old and new, are made available to assist potential retirees in making your choice of distribution of the Supplemental Account and the Voluntary Account at your retirement. Annuities are fixed payments based on your account balances, included in your monthly benefit, payable over your lifetime under the terms and conditions of the payment plan you select. These fixed payments are excluded from cost of living increases. The new annuity factors effective September 1, 2017 result in a smaller annuity than the current annuity factors in effect until August 1, 2017.     

 

Please be sure to understand the terms of the annuity factors before you retire, as you are locked into your choice as of the effective date of your retirement, even though you will receive your first retirement benefit at a later date.

 

Changes to your choice of distribution for the Supplemental Account and the Voluntary Account can only be made prior to the effective date of your retirement.

 

You must file a completed Application for Retirement Benefits prior to the effective date of your retirement. 

 

 

 



Content Last Modified on 6/8/2016 9:53:00 AM