[ News ]

[ SIB ]

[ TFFR ]

[ Search ]

Teachers' Fund for Retirement

TFFR Member Handbook (continued)

Previous Section

Table 1 - 100% Joint & Survivor Annuity
Member's Age	Ben. Age 51	Ben. Age 52	Ben. Age 53	Ben. Age 54	Ben. Age 55	Ben. Age 56	Ben. Age 57	Ben. Age 58	Ben. Age 59	Ben. Age 60	Ben. Age 61	Ben. Age 62	Ben. Age 63	Ben. Age 64	Ben. Age 65
50	95%	95%	95%	95%	95%	95%	96%	96%	96%	96%	96%	96%	97%	97%	97%
51	94%	94%	94%	95%	95%	95%	95%	95%	96%	96%	96%	96%	96%	96%	97%
52	93%	94%	94%	94%	94%	94%	95%	95%	95%	95%	95%	96%	96%	96%	96%
53	93%	93%	93%	94%	94%	94%	94%	94%	95%	95%	95%	95%	95%	96%	96%
54	92%	93%	93%	93%	93%	93%	94%	94%	94%	94%	95%	95%	95%	95%	95%
55	92%	92%	92%	92%	93%	93%	93%	93%	94%	94%	94%	94%	95%	95%	95%
56	91%	91%	91%	92%	92%	92%	92%	93%	93%	93%	93%	94%	94%	94%	94%
57	90%	90%	91%	91%	91%	92%	92%	92%	92%	93%	93%	93%	93%	94%	94%
58	89%	90%	90%	90%	90%	91%	91%	91%	92%	92%	92%	93%	93%	93%	93%
59	88%	89%	89%	89%	90%	90%	90%	91%	91%	91%	92%	92%	92%	92%	93%
60	88%	88%	88%	88%	89%	89%	89%	90%	90%	90%	91%	91%	91%	92%	92%
61	87%	87%	87%	87%	88%	88%	88%	89%	89%	90%	90%	90%	91%	91%	91%
62	85%	86%	86%	86%	87%	87%	88%	88%	88%	89%	89%	89%	90%	90%	91%
63	84%	85%	85%	85%	86%	86%	86%	87%	87%	88%	88%	88%	89%	89%	90%
64	83%	83%	84%	84%	85%	85%	85%	86%	86%	87%	87%	87%	88%	88%	89%
65	82%	82%	83%	83%	83%	84%	84%	84%	85%	85%	86%	86%	87%	87%	88%

Table 2 - 50% Joint & Survivor Annuity
Member's Age	Ben. Age 51	Ben. Age 52	Ben. Age 53	Ben. Age 54	Ben. Age 55	Ben. Age 56	Ben. Age 57	Ben. Age 58	Ben. Age 59	Ben. Age 60	Ben. Age 61	Ben. Age 62	Ben. Age 63	Ben. Age 64	Ben. Age 65
50	97%	97%	97%	97%	98%	98%	98%	98%	98%	98%	98%	98%	98%	98%	98%
51	97%	97%	97%	97%	97%	97%	98%	98%	98%	98%	98%	98%	98%	98%	98%
52	97%	97%	97%	97%	97%	97%	97%	97%	97%	98%	98%	98%	98%	98%	98%
53	96%	96%	97%	97%	97%	97%	97%	97%	97%	97%	97%	98%	98%	98%	98%
54	96%	96%	96%	96%	96%	97%	97%	97%	97%	97%	97%	97%	97%	98%	98%
55	96%	96%	96%	96%	96%	96%	96%	97%	97%	97%	97%	97%	97%	97%	97%
56	95%	95%	96%	96%	96%	96%	96%	96%	96%	97%	97%	97%	97%	97%	97%
57	95%	95%	95%	95%	95%	96%	96%	96%	96%	96%	96%	96%	97%	97%	97%
58	94%	95%	95%	95%	95%	95%	95%	95%	96%	96%	96%	96%	96%	96%	97%
59	94%	94%	94%	94%	95%	95%	95%	95%	95%	95%	96%	96%	96%	96%	96%
60	93%	94%	94%	94%	94%	94%	94%	95%	95%	95%	95%	95%	96%	96%	96%
61	93%	93%	93%	93%	94%	94%	94%	94%	94%	94%	95%	95%	95%	95%	95%
62	92%	92%	93%	93%	93%	93%	93%	94%	94%	94%	94%	94%	95%	95%	95%
63	91%	92%	92%	92%	92%	93%	93%	93%	93%	93%	94%	94%	94%	94%	95%
64	91%	91%	91%	91%	92%	92%	92%	92%	93%	93%	93%	93%	94%	94%	94%
65	90%	90%	90%	91%	91%	91%	91%	92%	92%	92%	92%	93%	93%	93%	93%

Table 3 - 10 Year Term Certain Annuity
Member's Age:	Benefit Is Reduced To:
50	99.37%
51	99.29%
52	99.21%
53	99.13%
54	99.04%
55	98.94%
56	98.83%
57	98.70%
58	98.57%
59	98.41%
60	98.24%
61	98.04%
62	97.81%
63	97.55%
64	97.24%
65	96.89%
66	96.49%
67	96.03%
68	95.50%
69	94.90%
70	94.22%

Table 4 - 20 Year Term Certain Annuity
Member's Age:	Benefit Is Reduced To:
50	97.82%
51	97.59%
52	97.34%
53	97.06%
54	96.76%
55	96.42%
56	96.04%
57	95.62%
58	95.15%
59	94.63%
60	94.04%
61	93.38%
62	92.65%
63	91.82%
64	90.91%
65	89.90%
66	88.79%
67	87.57%
68	86.23%
69	84.79%
70	83.24%

Table 5 - Level Income Option
TFFR Retirement Age	Percent of Estimated Social Security Using the Single Life Annuity Option for Age 62	Percent of Estimated Social Security Using the Single Life Annuity Option for Normal Retirement Age for SS
53	43%	26%
54	47%	28%
55	52%	31%
56	56%	34%
57	62%	37%
58	68%	41%
59	74%	45%
60	82%	49%
61	90%	54%
62	N/A	60%
63	N/A	66%
64	N/A	73%
65	N/A	80%
66	N/A	89%

Example:

Calculation of Level Income Supplement:

TFFR Retirement Age 55
Estimated Social Security Benefit = $800 at age 62
$800 × 52% = $416

Calculation of TFFR Single Life Annuity:

Single Life Annuity Non-Level Income	$ 1,000
Level Income Supplement	+ 416
Level Income Single Life Annuity (before age 62)	$ 1,416
At age 62 TFFR annuity is reduced by	- 800
Level Income Single Life Annuity (after age 62)	$ 616


		[ Back ]			[ Forward ]

© 2000 - 2001 ND RIO | Disclaimer
This site maintained by the North Dakota Retirement and Investment Office