Regardless of the amount of annuity income generated, I am steadfastly opposed to the purchase of an annuity with one's supplemental retirement investments: (457(b), 401(k), 403(b), 401(a), IRA).
With that said, the Teachers' Retirement System of the City of New York and the Board of Education Retirement System of the City of New York (TRS/BERS) are the only two of the state's eight public-sector defined benefit pension systems to also offer voluntary defined-contribution investment plans. TRS/BERS offer their retirees the opportunity to annuitize up to 100 percent of their 403(b) balances using the same favorable annuity income rates applicable to the TRS/BERS defined benefit pension systems.
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