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DISTRICT COUNCIL 37 AFSCME ANNUITY FUND Form
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People also ask
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What is the death benefit for retirees in DC 37?
The retiree Death Benefit for the Cultural Trust remains at $1,000. The Death Benefit is paid to the person or persons selected by the member on his/her enrollment card or Change of Beneficiary card filed with the Plan office.
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Does DC37 have a pension?
In addition, the Unit provides pension counseling services where members may receive an estimate of their pension retirement allowance and an explanation of the different pension options with a pension counselor. It is advisable to schedule an appointment within one year of the planned retirement date.
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What is the Laborers Annuity Fund?
As a participant in the Laborers Annuity Fund, you can receive an Annuity benefit that will provide you with income when you stop working at retirement age. This benefit is based on contributions made to your individual account in the Annuity Fund by your employer on your behalf.
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What is the District Council 37 Afscme annuity fund plan?
The District Council 37 AFSCME Annuity Fund Plan is a defined contribution employees' pension plan. It is funded by Employer contributions made pursuant to collective bargaining agreements between District Council 37 and agencies and subdivisions of the City of New York and other government entities.
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What is an annuity fund plan?
Annuities are financial products that offer a guaranteed income stream and are usually bought by retirees. The accumulation phase is the first stage of an annuity during which investors fund the product with a lump-sum payment or periodic payments.
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What is an annuity in a labor union?
The Annuity Plan provides you with a valuable supplement to other retirement income. All contributions to the Annuity Plan come from your employer, based on the collective bargaining agreement between the Union and your employer, and are automatically credited to your account.
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What is DC 37 annuity fund?
DC 37 Annuity Fund The Annuity Fund is a tax-deferred savings plan. Most members covered by the 1995 Municipal Coalition Economic Agreement, who were on active payroll from June 1, 1996 through May 31, 1997 and who were on active pay status on June 1, 1999, are eligible for an Annuity Fund benefit.
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What is the death benefit for retirees in DC 37?
The retiree Death Benefit for the Cultural Trust remains at $1,000. The Death Benefit is paid to the person or persons selected by the member on his/her enrollment card or Change of Beneficiary card filed with the Plan office.
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