Additional Annuity and Earnings Credits
Additional Annuity and Earnings Credits
The Teachers’ Retirement Board has the statutory authority to declare a credit when the funded status of the Defined Benefit Supplement program and the Cash Balance Benefit program surpass certain thresholds after periods of substantial investment earnings.
2017 Additional Earnings Credit
The Teacher’s Retirement Board declared a credit to the Defined Benefit Supplement and Cash Balance Benefit programs on May 10, 2018, for fiscal year 2016-17 due to the programs showing substantial investment earnings.
2015 Additional Earnings Credit
The Teacher’s Retirement Board declared a credit to the Defined Benefit Supplement and Cash Balance Benefit programs on April 7, 2016, for fiscal year 2014-15 due to the programs showing substantial investment earnings.
2014 Additional Earnings Credit
The Teacher’s Retirement Board has the statutory authority to declare a credit when the Defined Benefit Supplement and Cash Balance Benefit programs show substantial investment earnings. The programs met the thresholds for a credit for the fiscal year ending June 30, 2014. The board declared the credit on June 11, 2015, for fiscal year 2013-14.
2013 Additional Annuity Credit and Additional Earnings Credit
The Defined Benefit Supplement and Cash Balance Benefit programs showed substantial investment earnings and met the thresholds for a credit for the fiscal year ending June 30, 2013. The board declared the credit on April 3, 2014, for the 2012-13 fiscal year.