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TFFR Member Handbook (continued)

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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 of Contents

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 of Contents

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 of Contents

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

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