Fiscal year Ended June 30, 2007 - psers
Fiscal year Ended June 30, 2007 - psers
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