Educate Yourself

Retirement Plans Offered

PLAN A

Maximum Benefit Plan

This plan produces the largest possible monthly lifetime payment for you, the member. At your death, your monthly retirement benefit stops. If your death occurs prior to you receiving monthly benefits equal to the accumulated contributions and interest in your account, the balance of your accumulated contributions and interest will be paid in a lump sum to the beneficiary(ies) designated on your application for retirement.

In most cases, your contributions and interest will be depleted within 18 months of retirement. However, your benefits will be continued throughout your life. If there are no surviving beneficiaries at the time of your death, any applicable refund would be paid to your estate. If you select Plan A Retirement, you may change your beneficiary designations after retirement.

To estimate your monthly lifetime benefit for the Maximum Plan, you can use the retirement benefit formula (2%, times years of membership service, times your average monthly salary for your highest 24 consecutive months of membership service), or you may refer to the Pension Calculator (see link at top of this page).