New retirement resources available to employees
June 12, 2014
Recorded presentations are now available online from Purdue Benefits’ Road to Retirement program.
Road to Retirement is held twice each year, and invitations are sent to employees age 55 or older who are participating in a Public Employees’ Retirement Fund (PERF) or Fidelity retirement plan and have been employed at the University for three years or longer. Presenters include Fidelity, PERF, Purdue Benefits, Purdue University Retirees Association (PURA), Social Security and TIAA-CREF.
The presentations are available at www.purdue.edu/hr/Benefits/roadToRetirement.html.
Also, PERF has released a benefit estimate calculator that will project the monthly benefits available from both the pension and the Annuity Savings Account (ASA). By using different retirement dates in the calculator, PERF members can now determine the effect of the new actuarial factors and annuitization rates if they choose to annuitize their ASA funds. After Sept. 30, 2014, PERF will change the interest rate used to calculate this benefit from the current 7.5 percent to 5.75 percent.The calculator is available to participants who complete a benefits estimate on the PERF website. To complete an estimate, go to https://www.benefitsweb.com/perf.html and log in.