The Fund’s Annuity: Three Things You Should Know

The Fund’s Annuity: Three Things You Should Know

Learn about the YMCA Retirement Fund’s lifetime annuity, an outstanding retirement benefit for YMCA employees

Considering how to fund your golden years is a vital part of a secure retirement. As the YMCA’s partner in retirement planning, the Fund offers YMCA employees an outstanding retirement benefit that results in a lifetime annuity.

A lifetime annuity means that you will receive a guaranteed monthly income in retirement. Here are three things you should know about the Fund’s annuity.

1. HOW THE FUND’S ANNUITY WORKS

A Fund participant and his or her YMCA contributes money to the Fund’s Retirement Plan. The participant may contribute additional monies to the Fund’s Savings Plan, which is a tax-deferred, voluntary Savings Plan available to all YMCA employees.

Once the participant reaches age 55, no longer works for the Y, and has $5,000 or more in either Plan, the participant is eligible to start an annuity.

The amount of your annuity payment depends on how much money you have saved with the Fund and the annuity option you choose upon retirement. Not only do the Fund’s annuity options provide you with lifetime income, but your designated survivor may also receive a monthly payment for the rest of his or her lifetime. You can learn more about the Fund’s annuity options here.

2. WHY THE FUND’S ANNUITY IS COMPETITIVE

The Fund’s annuity has a big advantage over those found in the financial marketplace. The Fund annuitizes account balances, which means it converts them into monthly income payments, at a considerably higher rate than other financial marketplace offerings. This means that our participants typically receive larger monthly payments in retirement than they would from a commercial institution.

3. HOW YOU CAN PLAN FOR YOUR FUTURE

The Fund’s lifetime annuity is your reward for your dedication and service to the YMCA Movement. So, are you ready to start planning for your future?

It’s easy to get started, and the Fund provides numerous retirement planning tools to help you with the process. You can start planning for retirement using these helpful resources:

• To help you better understand what lifetime income in retirement could mean to your financial future, log in to your online account here and use the Fund’s Lifetime Income Tracker.
• Make sure your income will match your expenses in retirement by completing our Retirement Budget Worksheet.

It’s never too early to start planning your retirement, and the Fund is here to help you. Get in touch with a Fund representative for a complimentary consultation today.

August 7, 2019