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
$4661 monthly
payments for life beginning at age 65; upon death, payments would cease
Joint & Survivor
$3931 monthly

payments for life beginning at age 65; upon death, payments of $393 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 $135,000 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
$9021 monthly
payments for life beginning at age 75; upon death, payments would cease
Joint & Survivor
$6671 monthly

payments for life beginning at age 75; upon death, payments of $6671 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 December 31, 2020 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.