Interest is credited to each active member’s individual account at an annual rate of 4 percent by transferring funds from the Employer Fund to theEmployee Fund. Upon retirement, all member account balances and contributions are transferred to the Employer Fund as all annuities and administrative ex...
the guaranteed lifetime income stream offered by annuities could be a solution. Employers can provide qualified employee annuity plans as part of a 401(k), pension plan, or standalone option.