Offering the Security of Guaranteed Lifetime Income
Will your retirement savings last as long as your retirement? If you’re concerned about making your savings last through your lifetime, MERS offers you another option. The MERS Stable Income Annuity is a plan that allows you to convert your retirement account into a guaranteed income stream for life, or a period of your choice. There may also be the flexibility of a lump sum payment depending upon which annuity option you choose.
The Stable Income Annuity is an excellent way to maintain an income stream that is matched to your personal financial needs while adding the flexibility of lump-sum payment options.
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How It Works
The MERS Stable Income Annuity allows you to convert your retirement account or savings into guaranteed income stream for life, or a period of your choice. There are no costs or fees to enroll in the annuity, and there may be some favorable tax advantages. Here are some of the payment options available to you.
Life Income with Installment Refund
Life Income with Certain Period*
Joint and Survivor Life Income
Joint and Survivor Life Income with Installment Refund
Joint and Survivor Life Income with Certain Period
Joint and Contingent Survivor Life Income
*Inflation protection available. You can elect to guard against the effects of inflation with an annually increasing payment of 1%, 2%, 3%, 4% or 5%.
Note: The MERS Stable Income Annuity is also the default payment option for married Defined Contribution Plan members, unless the spouse signs a written waiver.
Request a Free Estimate
For more information or to receive an individual estimate, please contact our Service Center at 800.767.2308.