Rev 6/02
THE STANDARD ANNUITY – This selection pays the maximum monthly benefit to the retiree. Payments are made each month throughout the retiree’s life. Payments cease upon death of the retiree. SAMPLE CALCULATION FOR A STANDARD ANNUITY. $36,000. Average of highest 3 annual salaries. 30 X 2.3% = 69%. Total years of Factor Total % Creditable ... ................
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