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Fiscal year Ended June 30, 2007 - psers

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TABLE 3<br />

(Continued)<br />

Page 46<br />

THE NUMBER AND ANNUAL ANNUITIES<br />

OF ANNUITANTS ON THE RETIRED LIST<br />

AS OF JUNE <strong>30</strong>, <strong>2007</strong><br />

RETIRED ON ACCOUNT OF SUPERANNUATION, EARLY RETIREMENT AND<br />

THOSE IN RECEIPT OF WITHDRAWAL ANNUITIES<br />

OPTION<br />

MALE<br />

FEMALE<br />

Maximum 28,205 $ 803,723,746 66,432 $ 1,232,529,872<br />

1 7,034 150,597,253 16,878 271,178,858<br />

2 10,168 238,310,893 7,901 166,266,675<br />

3 8,019 248,850,569 6,439 164,289,135<br />

4 915 38,289,321 370 12,984,016<br />

54,341 $ 1,479,771,782 98,020 $ 1,847,248,556<br />

DEFINITIONS OF OPTIONS<br />

Option 1<br />

Option 2<br />

Option 3<br />

Option 4<br />

A life annuity to the member with a guaranteed payment to the beneficiary<br />

equal to the present value of the total maximum single life annuity less any<br />

amounts paid to the member prior to death.<br />

A joint and one hundred percent (100%) survivor annuity payable during the<br />

lifetime of the member with the full amount of such annuity payable thereafter<br />

to the designated survivor annuitant, if living at the member's death.<br />

A joint and fifty percent (50%) survivor annuity payable during the lifetime of<br />

the member with one-half of such annuity payable thereafter to the designated<br />

survivor annuitant, if living at the member's death.<br />

A life annuity to the member with a special death benefit other than the<br />

normal option 1, 2, or 3 death benefit.<br />

THE PUBLIC SCHOOL EMPLOYEES’<br />

RETIREMENT SYSTEM OF PENNSYLVANIA<br />

BUCK CONSULTANTS

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