Annual Benefits Statement 2014

 Qualified Pension Plan
 (QPP)

 

QPP- A - "Defined Benefit Pension Plan"

This means the retirment check is defined by a formula
and not an account balance.

This plan does not allow for a Lump Sum payment.
Therefore you cannot arrange to leave this money to heirs.

$9,953.30 - is the 2014 Annual Est. payout for the Defined Benefit Plan

QPP - B - "Tax Deferred Annuity"

 This is a Defined Contribution Plan, which is based on a defined percentage contribution
which builds into an account balance.

This plan does allow for a Lump Sum payment for your heirs.

$2038.08 - is the 2014 Annual Est.  Annuity payout if you elect an Annuity from the TDA.

 

For the full retirement benefit, you must be 62 years
old at retirement or, if you have 30 years of credited
service, you may retire as early as age 55. With less
than 30 years of service, you may retire as early as
age 55, but you will receive a reduced benefit
BUT
If you need Social Security to meet expenses, you might consider TRS retirement at age 66