The Retirement Puzzle
|
|
- Abigayle Lydia Goodwin
- 5 years ago
- Views:
Transcription
1
2 The Retirement Puzzle Make sure you have all the pieces Maine Public Employees Retirement System (MainePERS) SPS-sem0205ME
3 The Horace Mann Companies presents this information to help employees better understand the benefits offered by their retirement system. The Horace Mann Companies is solely responsible for the information contained in this presentation and neither the presenter nor Horace Mann is in any way affiliated with this retirement system. Please contact the Maine Public Employees Retirement System at or on the Web at
4 Maine Public Employees Retirement System (MainePERS) Membership Contributions Vesting Benefit factors Beneficiary Survivor benefits Payment plans Service retirement Early retirement COLA
5 Membership July 1, 1993 changes Age 60 plan Age 62 plan July 1, 2011 Members with less than 5 years of service New hires Eligible to retire at age 65
6 Contributions Deducted from gross salary each pay period Employee rate is 7.65% Employer rate determined annually
7 Vesting Guaranteed a retirement benefit once age and/or service requirements are met Requires 5 years of service Retain membership until retirement or death Lose membership if contributions are withdrawn Vesting status as of 7/1/11
8 Defined benefit formula MainePERS is a defined benefit retirement plan Benefit determined by a formula Average final compensation (AFC) Creditable service Accrual rate (2%)
9 Average final compensation Three years of creditable service Highest salaries received Cap on salary increases
10 Creditable service Membership service under MainePERS for which contributions are made Plus periods of credited or purchased service Refunded service Out-of-state service Military service Leave of absence or sabbatical leave Other public or government employment Up to 90 days unused and unpaid sick time
11 Refunded service Previously withdrawn service may be reestablished Redeposit amount withdrawn plus interest Lump sum or installment payment plans
12 Your beneficiary Make a beneficiary designation One or more primary beneficiaries One or more contingent beneficiaries Certain survivor options may not be available if you designate multiple beneficiaries Keep your designations up to date Designation of Beneficiary form
13 Survivor benefits Payable to your beneficiary if you die before retirement Refund of contributions and interest Monthly benefit (automatic Option 2) Monthly survivor benefit Accidental death benefit
14 Group life insurance Group life insurance may be available if your employer participates in the MainePERS program Coverage amounts Basic coverage on yourself Optional supplemental coverage on yourself Optional dependent coverage Premiums vary by employer
15 Normal retirement age (Unreduced benefit) Age 60, if before 7/1/93 you had 10 years of service; or you had reached age 60 and had at least one year of service immediately prior to reaching 60 Age 62 If you do not meet either of the above requirements Age 65 If you had less than 5 years of service on 7/1/11; or If you are a new hire on or after 7/1/11
16 Service retirement $4,167 Assumptions Member age 60 (2% x 30) Beneficiary age 60 Service 30 years $2,500 FAS $50,000 $1,667 This example is for illustration only. Figures using your specific information can be obtained by going to the MainePERS website.
17 Benefit payment plans Single Life plans Full Benefit (maximum monthly benefit) Option 1 Life with refund Joint and Survivor plans Options 2-8
18 Options 2 & 3 Joint and Survivor Permanently reduced retirement allowance Retirement allowance will continue after your death to the designated beneficiary Option 2 100% of retirement allowance Option 3 50% of retirement allowance If the beneficiary dies first, your monthly allowance will remain the same
19 Option 4 Specified Percentage to Survivor Permanently reduced benefit for your lifetime At your death the beneficiary receives a percentage of the benefit paid to you You elect percentage at the time of retirement Percentage other than 100% or 50%
20 Option 5 Split Percentage with Higher Percentage to Survivor Elect percentage of payment for both you and beneficiary At either death the survivor receives the higher percentage for life Minimum member percentage is 51%
21 Options 6 & 7 Joint and Survivor with pop-up Reduced retirement allowance payable while you and your beneficiary are both alive Retirement allowance will continue after your death to the designated beneficiary Option 6 100% of retirement allowance Option 7 50% of retirement allowance If the beneficiary dies before you, the retirement allowance will revert (pop up) to the maximum amount
22 Option 8 modification of option 4 Joint with specified percentage to beneficiary If the beneficiary dies first, your benefit will pop up to the Full Benefit
23 Early retirement qualifications At least 25 years of service credit Reduced benefit Normal retirement age 60 Reduction of approximately 2.25% for each year younger than 60 Normal retirement age 62 or age 65 Reduction of 6% for each year preceding your normal retirement age
24 Early retirement (Age 60) $4,167 Assumptions Member age 55 (2% x 25) - $234 Service 25 years FAS $50, % reduction for each year under age 60 $1,849 $2,318 This example is for illustration only. Figures using your specific information can be obtained by going to the MainePERS website.
25 Early retirement (Age 62) $4,167 Assumptions Member age 55 (2% x 25) - $875 Service 25 years FAS $50,000 6% reduction for each year under age 62 $1,208 $2,959 This example is for illustration only. Figures using your specific information can be obtained by going to the MainePERS website.
26 Cost-of-Living Adjustment (COLA) COLAs are applied on the first $20,000 of benefits COLA cannot exceed 3% annually Cap amount will be indexed by the CPI for that year
27 Social Security benefits Members of MainePERS do not pay into Social Security You may qualify for Social Security benefits if You ve worked outside this system Your spouse has paid into Social Security These benefits may be reduced Windfall elimination provision (WEP) Government pension offset (GPO)
28 Retirement income shortfall Making a difference Your current income Your income from pension and Social Security You need to provide the difference to maintain your current income
29 Why start now? You need to fill in the gap!
30 Average life expectancy after retirement Source: Table A, United States Life Tables, 2009, National Center for Health Statistics
31 Standard of living Approximately 80% of pre-retirement income First year of retirement Inflation
32 Purchasing power Source: U.S. Department of Labor, Bureau of Labor Statistics,
33 Can you afford to wait? Cherie Started a retirement fund at age 25 Contributed $4,000 annually for 10 years for a total of $40,000 Earned 6% annually Lauren Started a retirement fund at age 40 Contributed $4,000 annually for 25 years for a total of $100,000 Earned 6% annually Who ends up with more at age 65? These figures are hypothetical and do not represent the returns for any particular investment.
34 Developing a retirement plan Retirement age Retirement lifestyle Length of retirement Income needed MainePERS benefits Social Security Health insurance Continue working
35 Estate planning considerations Will Financial power of attorney Advance care directive
36 Additional information Establishing service credit Disability retirement Returning to covered employment Beneficiary and option changes Maine Public Employees Retirement System or
37 You should review your retirement plan Retirement planning is a process, not an event!
38 Your retirement system Maine Public Employees Retirement System 46 State House Station Augusta, ME Telephone Toll-free Retirement-System-MainePERS/
39 Your Social Security benefits Social Security Administration click on Calculate your Benefit
40 Horace Mann representative Agent Name Agent Phone Number Agent
Member Handbook. Judicial. MainePERS Judicial Retirement Program. Benefits for Judges and Justices. September mainepers.org
Judicial Member Handbook MainePERS Judicial Retirement Program Benefits for Judges and Justices September 2011 mainepers.org Judicial Retirement Program Benefits for Judges and Justices A general summary
More informationState. Member. Handbook. MainePERS Benefits for State Employees. October mainepers.org
Maine Public Employees Retirement Maine System Public (October Employees 2014) Retirement System (May 2010) Member State Handbook MainePERS Benefits for State Employees October 2014 mainepers.org Contents:
More informationPLD. Member Handbook. MainePERS Benefits for Participating Local Districts. mainepers.org. August 2010
Member Handbook PLD MainePERS Benefits for Participating Local Districts August 2010 mainepers.org MainePERS Benefits for Participating Local Districts A general summary of the benefits available to you
More informationPLD. Member Handbook. Participating Local Districts. MainePERS Benefits for
PLD Member Handbook MainePERS Benefits for Participating Local Districts 2018 MainePERS Benefits for Participating Local Districts A general summary of the benefits available to you as a MainePERS member
More informationDisclaimer: In the event of any disputes or disagreements arising from the information provided below, the pension plan text will take precedence.
Summary of the Staff Pension Plan: The Contributory Pension Plan for Employees Represented by OPSEU Local 365 and Exempt Administrative Staff of Trent University Disclaimer: In the event of any disputes
More informationTENNESSEE CONSOLIDATED RETIREMENT SYSTEM (TCRS)
TENNESSEE CONSOLIDATED RETIREMENT SYSTEM (TCRS) Tennessee Consolidated Retirement System (TCRS) TCRS is a defined benefit plan that provides a lifetime benefit at retirement once eligibility has been met.
More informationWelcome. A Guide for New Members. Welcome to Maine Public Employees Retirement System. July mainepers.org
Welcome Welcome to Maine Public Employees Retirement System A Guide for New Members July 2015 mainepers.org Welcome! Whether you are beginning your career in public service, or worked previously for an
More informationPARTICIPANT'S RETIREMENT PLAN BENEFIT GU ID E
PARTICIPANT'S RETIREMENT PLAN BENEFIT GU ID E Table of Contents PLAN ADMINISTRATION 2 Who is responsible for the retirement plan? > Board Members > Professional Advisors > Administrative Staff Who do I
More informationWelcome to CalSTRS Benefits and Services for New Educators
Welcome to CalSTRS Benefits and Services for New Educators Access Your Information on mycalstrs mycalstrs offers easy, secure and convenient access to your accounts and CalSTRS forms. Start at mycalstrs.com.
More informationSummary of the Faculty Pension Plan: The Contributory Pension Plan for TUFA Employees of Trent University
Summary of the Faculty Pension Plan: The Contributory Pension Plan for TUFA Employees of Trent University Disclaimer: In the event of any disputes or disagreements arising from the information provided
More informationYour Benefits Under the IMRF. Regular Plan. Tier 2. Illinois Municipal Retirement Fund. Helping you build a secure retirement
Your Benefits Under the IMRF Regular Plan Tier 2 Illinois Municipal Retirement Fund Helping you build a secure retirement table of contents Your Benefits at a Glance... 2 Why you participate in IMRF...
More informationComparing Tier 2 Plans
U t a h R e t i R e m e n t S y S t e m S Comparing Tier 2 Plans and Defined Contribution Plan July 1, 2014 June 30, 2015 1 and Defined Contribution Plan Comparing Tier 2 Plans Understanding the advantages
More informationStatewide Defined Benefit Plan
Statewide Defined Benefit Plan The covers all full-time firefighter and police officer employees of participating fire or police departments in Colorado hired on or after April 8, 1978. As of August 5,
More informationPlan Comparison Guide
Plan Comparison Guide The Virginia Retirement System Plan Comparison Guide provides a quick look at some of the similarities and differences among VRS Plan 1, VRS Plan 2 and the Hybrid Retirement Plan.
More informationCITY OF KNOXVILLE EMPLOYEES PENSION SYSTEM SUMMARY PLAN PROVISIONS FOR DIVISION G2
CITY OF KNOXVILLE EMPLOYEES PENSION SYSTEM SUMMARY PLAN PROVISIONS FOR DIVISION G2 Summary Plan Provisions for Division G2 Welcome to the Plan 1 Eligibility and Participation 2 Employee Contributions 2
More informationAnne Arundel County Government. Employees Retirement Plan. Summary Plan Description. (Tier 1 & Tier 2) Effective January 1, 2009
Anne Arundel County Government Employees Retirement Plan Summary Plan Description (Tier 1 & Tier 2) Effective January 1, 2009 Revised January 2017 Table of Contents Introduction...3 Participating in the
More informationMichelle Bridges LSERS Retirement Education. Created by MRB 10/9/12 1
Michelle Bridges LSERS Retirement Education Created by MRB 10/9/12 1 Retirement Eligibility/Plans Benefit Calculations Service Credit Unused Leave Option Plans DROP and IBRP Disability and Survivor Social
More informationPublic Employees Retirement Fund (PERF) One North Capitol, Suite 001 Indianapolis, IN, (888)
Public Employees Retirement Fund (PERF) Who participates in INPRS? 450,000 Members from over 1,100 Public Employers Employers include State of Indiana Teachers Cities Towns Counties School Corporations
More informationTIER 2. Your Benefits. Regular Plan. Helping you build a secure retirement
TIER 2 Your Benefits Regular Plan Helping you build a secure retirement 03/2018 Locally funded, funded, financially financially sound. sound. Locally Table of Contents Your Benefits at a Glance... 2 Participation
More informationChoosing Your Retirement Plan
Choosing Your Retirement Plan Optional Retirement Plan for Political Appointees Membership Date: On or after January 1, 2014 A comparison guide to help you select the best plan for your needs Choosing
More informationA comparison guide to help you select the best plan for your needs
Choosing Your Retirement Plan Optional Retirement Plan VRS Hybrid Retirement Plan Membership Date: On or after January 1, 2014 A comparison guide to help you select the best plan for your needs Choosing
More informationChoosing Your Retirement Plan Optional Retirement Plan for Political Appointees Plan 2
Choosing Your Retirement Plan Optional Retirement Plan for Political Appointees Plan 2 VRS Plan 2 Membership Date: July 1, 2010 December 31, 2013 A comparison guide to help you select the best plan for
More information"Board", when used in the following sections refers to the West Virginia Consolidated Public Retirement Board.
PUBLIC EMPLOYEES RETIREMENT SYSTEM (PERS) The Public Employees Retirement System (PERS) was established on July 1, 1961 for the purpose of providing retirement benefits for employees of the State and other
More informationA comparison guide to help you select the best plan for your needs
Choosing Your Retirement Plan Optional Retirement Plan VRS Hybrid Retirement Plan Membership Date: On or after January 1, 2014 A comparison guide to help you select the best plan for your needs Choosing
More informationOnce you become a Member of the Plan, you may not withdraw from the Plan so long as you remain employed by the City.
Retirement Benefit Plan for the Employees of the City of St. John s as applicable to Members of CUPE Local 1289, CUPE Local 569, NAPE Local 7808, and Non-Bargaining (Option 1) The Retirement Benefit Plan
More informationSUMMARY PLAN DESCRIPTION
CITY OF FRESNO FIRE & POLICE RETIREMENT SYSTEM SUMMARY PLAN DESCRIPTION REVISED JUNE 2006 CITY OF FRESNO FIRE & POLICE RETIREMENT SYSTEM SUMMARY PLAN DESCRIPTION REVISED JUNE 2006 City of Fresno Retirement
More informationARLINGTON COUNTY EMPLOYEES RETIREMENT SYSTEM CHAPTER 46 MEMBERSHIP HANDBOOK
ARLINGTON COUNTY EMPLOYEES RETIREMENT SYSTEM CHAPTER 46 MEMBERSHIP HANDBOOK (Established for employees hired on or after 2/8/81) Revised 1/2011 (Includes changes to the code that were approved September
More informationChoosing Your Retirement Plan Optional Retirement Plan for Political Appointees Plan 1 VRS Plan 1 Membership Date: Before July 1, 2010
Choosing Your Retirement Plan Optional Retirement Plan for Political Appointees Plan 1 VRS Plan 1 Membership Date: Before July 1, 2010 A comparison guide to help you select the best plan for your needs
More informationService Retirement. Service Retirement
42 Types of Benefits...44 Benefit Formula Components...44 Final Average Salary Caps...45 Normal Retirement Benefits...45 Eligibility...45 Benefit Amount...45 Members Contributing at Two-Thirds the Full
More informationActuarial SECTION. A Tradition of Service
Actuarial SECTION A Tradition of Service We were created by the Michigan Legislature in 1945 with one simple goal: to help municipalities offer affordable, sustainable retirement solutions for their employees.
More informationTEACHERS AND STATE EMPLOYEES RETIREMENT SYSTEM YOUR RETIREMENT BENEFITS
TEACHERS AND STATE EMPLOYEES RETIREMENT SYSTEM YOUR RETIREMENT BENEFITS Member Handbook Department of State Treasurer Raleigh, NC Revised January 2017 N.C. DEPARTMENT OF STATE TREASURER RETIREMENT SYSTEMS
More informationCity of Grand Rapids. Police & Fire Retirement System. A Summary for Employees
City of Grand Rapids Police & Fire Retirement System City of Grand Rapids Retirement Systems Office 233 E. Fulton St., Suite 216 Grand Rapids, MI 49503 3261 (616) 365 5015 www.grpensions.org A Summary
More informationChoosing Your Retirement Plan
Choosing Your Retirement Plan Optional Retirement Plan for Higher Education Plan 2 VRS Plan 2 Membership Date: July 1, 2010 December 31, 2013 A comparison guide to help you select the best plan for your
More informationNote: The material in this publication is based on the law in effect at the time it went to publication.
Note: The material in this publication is based on the law in effect at the time it went to publication. Under the Balanced Budget Act of 1997, Public Law 105-33, for fiscal year 1998, employee retirement
More informationCity of McDonough. Employee. Retirement Handbook
City of McDonough Employee Retirement Handbook YOUR RETIREMENT PLAN Retirement appears to be far in the future to employees in their twenties, thirties, and even forties. However, those in their fifties
More informationStatewide Defined Benefit Plan
Statewide Defined Benefit Plan The Statewide Defined Benefit Plan covers all full-time firefighter and police officer employees of participating fire or police departments in Colorado hired on or after
More informationFLORIDA RETIREMENT SYSTEM (FRS) PENSION PLAN. Chad Poppell, Secretary
FLORIDA RETIREMENT SYSTEM (FRS) PENSION PLAN Chad Poppell, Secretary FRS PENSION PLAN GUIDE Florida Retirement System Created December 1970 Defined Benefit Plan 401(a) Internal Revenue Code Non-Contributory
More informationYour Retirement Benefits JANUARY 2018
Welcome to the! You are now part of one of the five best pension plans in the country, according to S&P Global. The (LGERS) is a pension plan administered by the North Carolina Total Retirement Plans within
More informationPULP & PAPER INDUSTRY pension plan
PULP & PAPER INDUSTRY pension plan summary Updated January 2005 Updated January 2005 Pulp and Paper Industry Pension Plan Summary Table of Contents Introduction...1 Your Privacy...3 The Plan Administrator...4
More informationTacoma Employees Retirement System WELCOME TERS MEMBERS
Tacoma Employees Retirement System Tacoma Employees Retirement System WELCOME MEMBERS Retirement Planning Disclaimer City of Tacoma, Washington This presentation is a summarized description of the plan,
More informationEMPLOYEES PENSION PLAN OF THE CITY OF BOYNTON BEACH, FLORIDA SUMMARY PLAN DESCRIPTION
EMPLOYEES PENSION PLAN OF THE CITY OF BOYNTON BEACH, FLORIDA SUMMARY PLAN DESCRIPTION May 2015 TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN... -1- GENERAL INFORMATION ABOUT YOUR PLAN..........................
More informationChoosing a Retirement Program
% % State Retirement and Pension System Choosing a Retirement Program ptiona About This Book About This Booklet This booklet addresses only those general provisions applicable under the two retirement
More informationTable of Contents Introduction Your Privacy The Plan Administrator Commonly Asked Questions Glossary Joining the Plan Contribution Credited Service
SUMMARY Table of Contents Introduction 1 Your Privacy 3 The Plan Administrator 4 Commonly Asked Questions 4 Glossary 5 Joining the Plan 7 Contribution 7 Credited Service 8 Excess Hours and the Hour Bank
More informationMember Handbook. Public School Retirement System of the City of St. Louis
Member Handbook Public School Retirement System of the City of St. Louis 3641 Olive Street, Suite 300 St. Louis, MO 63108-3601 Voice: (314) 534-7444 Fax: (314) 533-0531 Website: www.psrsstl.org August
More information2016 Pre-Retirement Webinar
2016 Pre-Retirement Webinar 3 SOURCES OF RETIREMENT INCOME Personal Savings YOUR RETIREMENT INCOME Social Security KPERS 2 TYPE OF RETIREMENT PLAN KPERS 1 and KPERS 2 are 401(a) Defined Benefit Plans Contrast
More informationSUMMARY PLAN DESCRIPTION FOR PART-TIME EMPLOYEE MEMBERS
SUMMARY PLAN DESCRIPTION FOR PART-TIME EMPLOYEE MEMBERS This document has been prepared for members of the Public Employees Retirement System of Nevada to provide general information. It is based on retirement
More informationTEACHERS AND STATE EMPLOYEES RETIREMENT SYSTEM FOR STATE LAW ENFORCEMENT OFFICERS YOUR RETIREMENT BENEFITS
TEACHERS AND STATE EMPLOYEES RETIREMENT SYSTEM FOR STATE LAW ENFORCEMENT OFFICERS YOUR RETIREMENT BENEFITS Member Handbook Department of State Treasurer Raleigh, NC Revised January 2017 N.C. DEPARTMENT
More informationPPL Retirement Plan Summary Plan Description for Management Employees
PPL Retirement Plan Summary Plan Description for Management Employees TABLE OF CONTENTS Page # The Retirement Plan... 1 About Your Participation... 2 Eligibility... 2 When Participation Begins... 3 Some
More informationMember Handbook
Member Handbook 2017-2018 2017-2018 PSRS Member Handbook PO Box 268 Jefferson City, MO 65102-0268 3210 W. Truman Blvd. Jefferson City, MO 65109 (573) 634-5290 or toll free (800) 392-6848 Email: psrspeers@psrspeers.org
More informationTeachers and State Employees Retirement System (TSERS) Retirement Planning
Teachers and State Employees Retirement System (TSERS) Retirement Planning Revised July 2017 Welcome Please silence all cell phones Disclaimer NC Total Retirement Plans Include TSERS 401(a) Defined Benefit
More informationRetirement Benefits. Presented by: Ashley Ranger Financial Services Specialist
Retirement Benefits Presented by: Ashley Ranger Financial Services Specialist Virginia Retirement System Virginia Retirement System Defined Benefit Plan Membership is required for full-time employees Monthly
More informationPreparing for Retirement
Preparing for Retirement Preparing for Retirement Your UCRP Retirement Monthly Retirement Income Lump Sum Cashout Retirement payment vs Employee paycheck Other sources of retirement income Retiree health
More informationCity of Atlanta Police Officers Pension Plan. SUMMARY PLAN DESCRIPTION (Revised July 1, 2013)
City of Atlanta Police Officers Pension Plan SUMMARY PLAN DESCRIPTION (Revised July 1, 2013) September 4, 2013 TABLE OF CONTENTS PART I: City of Atlanta Police Officers Pension Plan... 1 Introduction...
More informationRetirement Plan. Summary Plan Description. Retirement Plan Summary Plan Description
Retirement Plan Summary Plan Description While this Summary Plan Description summarizes the major provisions of this plan, it does not provide you with every plan detail. The plan documents, which govern
More informationLycoming County Employees Retirement System
Lycoming County Employees Retirement System Actuarial Valuation as of January 1, 2018 Municipal Finance Partners, Inc. Table of Contents Page The Primary Objective of Pension Funding 1 Asset and Investment
More informationSPOUSE BENEFITS TOP 10THINGS SHOULD KNOW ABOUT. A White Paper Re-Published from narfe Magazine
TOP 10THINGS SPOUSE SHOULD KNOW ABOUT BENEFITS A White Paper Re-Published from narfe Magazine National Active and Retired Federal Employees Association By Tammy Flanagan THE NEXT BEST THING to being a
More informationRetirement... A New Beginning
Retirement... A New Beginning A Guide to Retirement for the Tennessee Consolidated Retirement System January 1, 2014 David H. Lillard, Jr., State Treasurer Jill Bachus, Director of TCRS Table of Contents
More informationKentucky Retirement Systems
Kentucky Retirement Systems Understanding Your Retirement Benefits Informational Handbook For Hazardous Duty Employees Kentucky Employees Retirement System (KERS) County Employees Retirement System (CERS)
More informationKPERS. Membership Guide Kansas Police & Firemen s Retirement System. Information for Members KP&F Tier I KP&F Tier II
Membership Guide Kansas Police & Firemen s Retirement System Information for Members KP&F Tier I KP&F Tier II KPERS Dependable Benefits. Trusted Partner. Welcome to the Retirement System Welcome to the
More informationNYSLRS NYSLRS. your retirement plan. En-Con Police Officers Plan For Tier 1, 2, 3, 5 and 6 Members (Section 383-b)
your retirement plan En-Con Police Officers Plan For Tier 1, 2, 3, 5 and 6 Members (Section 383-b) NYSLRS NYSLRS New York State Office of the State Comptroller Thomas P. DiNapoli New York State and Local
More informationIntroduction Page 1. Part One A Guided Tour Page 2. Part Two Eligibility and Service Page 4. Part Three Retirement Benefits Page 8
Publication Date: JANUARY 2009 This booklet summarizes current provisions of the Timber Operators Council Retirement Plan and Trust (the Plan). It is designed to provide a general understanding about the
More informationYour Benefits Under the IMRF. Regular Plan Tier 1. Illinois Municipal Retirement Fund. Helping you build a secure retirement
Your Benefits Under the IMRF Regular Plan Tier 1 Illinois Municipal Retirement Fund Helping you build a secure retirement table of contents Your Benefits at a Glance... 2 Why you participate in IMRF...
More informationFor Your Name and Spouse Here. Presented by: Dolph Janis Clear Income Strategies Phone:
For and Here Presented by: Dolph Janis Phone: 74-99-49 Email: dolph@cisforlife.com Important Notes This analysis provides only broad, general guidelines, which may be helpful in shaping your thinking about
More informationMember Handbook. Your PERA Basic Plan Benefits
Member Handbook Your PERA Basic Plan Benefits Public Employees Retirement Association of Minnesota February 2009 To Our Members: We are pleased to present you with this publication, describing the benefits
More informationYour Retirement Income Gap Worksheet How much money will you have to enjoy the future you want?
Your Retirement Income Gap Worksheet How much money will you have to enjoy the future you want? 1. My Retirement Goal My goal is to retire with of my working income. According to financial advisers, you
More informationMY Guaranteed Solution II IM (4/14) Fixed annuity offered by Horace Mann Life Insurance Co.
MY Guaranteed Solution II IM-007014 (4/14) Fixed annuity offered by Horace Mann Life Insurance Co. Dedicated to the educational community At Horace Mann, we believe educators are taking care of our children
More informationAPPLICATION FOR SERVICE OR DISABILITY RETIREMENT
MARYLAND STATE RETIREMENT AGENCY 120 EAST BALTIMORE STREET BALTIMORE, MARYLAND 21202-6700 APPLICATION FOR SERVICE OR DISABILITY RETIREMENT IMPORTANT: If you are applying for disability, this form must
More informationRetirement Benefits. Additional Information. Company Defined
The Company offers four benefit plans that help you plan and save for your financial security after your retirement: The Pacific Gas and Electric Company Retirement Plan The PG&E Corporation Retirement
More informationNYSLRS NYSLRS. your retirement plan. Forest Rangers Plan For PFRS Tier 1, 2, 3, 5 and 6 Members (Section 383-c)
your retirement plan Forest Rangers Plan For PFRS Tier 1, 2, 3, 5 and 6 Members (Section 383-c) NYSLRS NYSLRS New York State Office of the State Comptroller Thomas P. DiNapoli New York State and Local
More informationMember Handbook. Public School Retirement System of the City of St. Louis
Member Handbook Public School Retirement System of the City of St. Louis 3641 Olive Street, Suite 300 St. Louis, MO 63108-3601 Voice: (314) 534-7444 Fax: (314) 533-0531 Website: www.psrsstl.org August
More informationPre-Retirement. Seminar
2016 Pre-Retirement Seminar 3 SOURCES OF RETIREMENT INCOME Personal Savings YOUR RETIREMENT INCOME Social Security KPERS 2 TYPE OF RETIREMENT PLAN KPERS 1 and KPERS 2 are 401(a) defined benefit plans Contrast
More informationBenefits at a Glance:
Benefits at a Glance: Your Defined Benefit Pension Plan 2017 The Benefits at a Glance is not a substitute for the Summary Plan Description. Prior to filing any application for benefits, you should thoroughly
More informationyour retirement plan Tier 5 Employees Retirement System Members (Article 15) Thomas P. DiNapoli New York State Office of the State Comptroller
your retirement plan Tier 5 Employees Retirement System Members (Article 15) New York State Office of the State Comptroller Thomas P. DiNapoli New York State and Local Employees Retirement System A Message
More informationCalPERS 55 Retirement Formula. A Key to Understanding Your Retirement Benefits
CalPERS 2.7% @ 55 Retirement Formula A Key to Understanding Your Retirement Benefits 1 City of Irvine List of Contracted Benefits Local Misc. 2.7% @ 55 formula 1 year Final Compensation Military Service
More informationHAMPTON EMPLOYEES RETIREMENT SYSTEM MEMBER HANDBOOK. 22 Lincoln Street, Hampton, VA ~ (757)
HAMPTON EMPLOYEES RETIREMENT SYSTEM MEMBER HANDBOOK 22 Lincoln Street, Hampton, VA ~ (757) 727-6230 TABLE OF CONTENTS Page Introduction 2 Your Pension Plan 2 Administration 3 Contributions 3 Membership
More informationYour Pension Benefit Payments. An Explanation of the Standard and Optional Forms of Payment Available to You as Shown on Your Participant s Statement
Your Pension Benefit Payments An Explanation of the Standard and Optional Forms of Payment Available to You as Shown on Your Participant s Statement Your Pension Benefit Payments The Standard and Optional
More informationSouth Carolina Retirement System. SCRS Member Handbook. January 2013 Edition. Revised
South Carolina Retirement System SCRS Member Handbook January 2013 Edition Revised 4-1-2013 This handbook provides an overview of benefits as of January 2, 2013 This page contains no other content. Table
More informationServing the People Who Serve Our Schools
s t i f ne e d i Gu e B er M b m e Serving the People Who Serve Our Schools School Employees Retirement System of Ohio 300 E. Broad St., Suite 100 Columbus, Ohio 43215-3746 614-222-5853 Toll-free 800-878-5853
More informationJoin CalSTRS? Join CalPERS? Decide which retirement system is best for you
Join? Join? Decide which retirement system is best for you 2013 14 On Our Cover: Raymond teaches general math and pre-algebra to 6th and 7th graders at a middle school in Southern California. His teaching
More informationCity of Tacoma Tacoma Employees Retirement System
City of Tacoma Tacoma Employees Retirement System MEMBER HANDBOOK 12-7-2017 Tacoma Employee s Retirement System (TERS) Overview...3 History Oversight How to Contact the Retirement Department TERS Summary
More informationLocal Safety Benefits
YOUR BENEFITS YOUR FUTURE What You Need to Know About Your CalPERS Local Safety Benefits CONTENTS Introduction...3 Your Retirement Benefits...4 Service Retirement or Normal Retirement....4 Disability Retirement...4
More informationNYSLRS NYSLRS. your retirement plan
your retirement plan Police and Fire Plan For Tier 1, 2, 5 and 6 Members, and Tier 3 Members Covered by Article 11 (Sections 375-b and 375-c) NYSLRS NYSLRS New York State Office of the State Comptroller
More informationPension Workshop City of East Point Employees Retirement Plan
Pension Workshop City of East Point Employees Retirement Plan Pension Workshop Pension Board Retirement Plan Update Overview of Benefits Processing of Applications Pension Board (Plan Administrator) Pension
More informationBuilding Your Retirement Security
Building Your Retirement Security Weld County Retirement Plan Effective July 1, 2000 Introduction The Weld County Retirement Plan (the plan ) is a 401(a) defined benefit plan adopted by the County effective
More informationBuilding Your Retirement Security
Building Your Retirement Security Weld County Retirement Plan Effective for employees hired on or after January 1, 2010 TABLE OF CONTENTS INTRODUCTION 3 PLAN HIGHLIGHTS...4 The benefits from the Weld County
More informationHigher Education Retirement Decision Guide
State of Tennessee Higher Education Retirement Decision Guide For Eligible Higher Education faculty and staff hired on or after July 1, 2014 A program of the Tennessee Treasury Department David H. Lillard,
More informationIncome for your. Retirement
Income for your Retirement Information about Your SDRS Retirement Benefits Class A July 1, 2015 South Dakota Retirement System 222 East Capitol Avenue, Suite 8 P.O. Box 1098 Pierre, SD 57501 Toll-Free
More informationUnder current law, a member qualifies for a lifetime monthly pension with the following combinations of age and service credit:
Welcome to SERS As a public school employee, you will be contributing to the School Employees Retirement System (SERS), one of five Ohio public pension funds. With some exceptions, SERS membership is required
More informationWhat You Need to Know About Your CalPERS. School Benefits
YOUR BENEFITS YOUR FUTURE What You Need to Know About Your CalPERS School Benefits This page intentionally left blank to facilitate double-sided printing. CONTENTS Introduction...2 Your Retirement Benefits....3
More informationDisability. Member Handbook. An Overview of Disability Benefits
Disability Maine Public Employees Retirement System (May 2010) Member Handbook An Overview of Disability Benefits For active State and Teacher members, and active PLD members who are covered under the
More informationWhat you need to know about your CalPERS. State Miscellaneous and Industrial Benefits
YO U R B E N E F I T S YO U R F U T U R E What you need to know about your CalPERS State Miscellaneous and Industrial Benefits C O N T E N T S Introduction.............................................
More informationCity of Gainesville Consolidated Police Officers and Firefighters Retirement Plan
Name of the Plan City of Gainesville Consolidated Police Officers and Firefighters Retirement Plan Introduction This document is the Summary Plan Description (SPD). The SPD introduces the Plan to you and
More informationCORRECTIONAL PLAN HANDBOOK
CORRECTIONAL PLAN HANDBOOK Visit us any time PERA's office is located on the second floor of the Retirement Systems of Minnesota Building, 60 Empire Drive in St. Paul. We are located north of the state
More informationSUMMARY PLAN DESCRIPTION OF THE BRITISH AIRWAYS PLC PENSION PLAN (U.S.A.) AS IN EFFECT ON APRIL 1, 2014
SUMMARY PLAN DESCRIPTION OF THE BRITISH AIRWAYS PLC PENSION PLAN (U.S.A.) AS IN EFFECT ON APRIL 1, 2014 December, 2014 TABLE OF CONTENTS WHAT IS THE BRITISH AIRWAYS PENSION PLAN... 1 ELIGIBILITY... 1 Eligibility
More informationFEDERAL RETIREMENT GUIDE PROVIDED BY THE NATIONAL POSTAL MAIL HANDLERS UNION LOCAL 304 ADMINISTRATION
FEDERAL RETIREMENT GUIDE PROVIDED BY THE NATIONAL POSTAL MAIL HANDLERS UNION LOCAL 304 ADMINISTRATION William H. McLemore III- Local President Rondal Pitcock- Indiana State Representative Rhonda Hinkle-Kentucky
More informationCity of Gainesville. Employees Pension Plan
City of Gainesville Employees Pension Plan Summary Plan Description October 1, 2012 THIS PAGE INTENTIONALLY LEFT BLANK Introduction The City of Gainesville (the City ) has established and maintains the
More informationTimber Operators Council Retirement Plan & Trust Summary Plan Description
Timber Operators Council Retirement Plan & Trust Summary Plan Description 91184532.7 0073962-00001 This booklet summarizes current provisions of the Timber Operators Council Retirement Plan and Trust (the
More informationPlan 8 Safety Members
Santa Barbara County Employees Retirement System Plan 8 Safety Members Summary Plan Description February 2016 3916 State Street Suite 100 Santa Barbara, California 93105 Phone 805-568-2940 Fax 805-560-1086
More information1. Who is eligible to be a participant of the Retirement System?
Background The following guide to pension benefits for the City of Kalamazoo Employees Retirement System, presented in question and answer form, has been prepared to assist you in planning for retirement
More informationWhat You Need to Know About Your CalPERS. Local Miscellaneous Benefits
YO U R B E N E F I T S YO U R F UT U R E What You Need to Know About Your CalPERS Local Miscellaneous Benefits CONTENTS Introduction...3 Your Retirement Benefits...4 Service Retirement or Normal Retirement....4
More information