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Make Your Money Last a Lifetime

Make sure you don't outlive your money. Consider using some or all of your Investment Plan account balance to purchase a lifetime income guarantee at retirement. The following resources can assist you in understanding a lifetime income guarantee and how to purchase one.

Annuity Quote
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Get your own income annuity quote.
Lifetime Income Video
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Learn about the importance of lifetime income and how to guarantee income for life.
Make Your Money Last a Lifetime Brochure
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Convert your Investment Plan balance into lifetime income.
Secure Income in Retirement
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Learn how a lifetime income guarantee helps John secure income in retirement.
Annuity FAQs
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Decide whether a fixed annuity is right for you by reviewing these FAQs.
Monthly Income
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Retirement income that's as regular as clockwork.
Immediate Annuity Video
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Reasons to purchase an immediate income annuity.
Deferred Annuity Video
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Reasons to purchase a deferred income annuity.
Retirement Income
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Two friends discuss retirement income.
Income Strategy
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Which retirement income strategy is right for you?
Income Annuity Myths
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Myths about income annuities.
Paycheck or Pot of Gold?
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Should you take a lifetime payment or a lump sum?

Two Ways to Protect Your Retirement Income


Lifetime Income Guarantee

A lifetime income guarantee (offered by MetLife) lets you convert some or all of your Investment Plan balance into a stream of future payments that could last your lifetime.
 
For example, a lifetime income guarantee purchased at age 65 with $100,000 of your Investment Plan balance would pay you: Single Life
$5911 monthly
 payments for life beginning at age 65; upon death, payments would cease 		Joint & Survivor
$5071 monthly
payments for life beginning at age 65; upon death, payments of $507 would continue to your survivor for life

Qualified Longevity Annuity Contract (QLAC)

A qualified longevity annuity contract (QLAC), also from MetLife, lets you defer receipt of your guaranteed monthly payments to a later age. QLACs are limited to $145,000 or 25% of your Investment Plan balance (whichever is less).
 
For example, a lifetime income guarantee QLAC purchased at age 65 with $100,000 of your Investment Plan balance would pay you: Single Life
$1,3321 monthly
 payments for life beginning at age 75; upon death, payments would cease 		Joint & Survivor
$9891 monthly
payments for life beginning at age 75; upon death, payments of $9891 would continue to your survivor for life
To learn more about these options, or to purchase one, call the MyFRS Financial Guidance Line at 1-866-446-9377, Option 2.
 

 
1 Quotes are based on $100,000 premiums as of September 30, 2022 for a female aged 65. Joint & Survivor assumes the chosen survivor is a spouse aged 65. Your actual quote may vary based on your individual data and other circumstances. Please note that other payment options and features are available.

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