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Variable Increase
Monthly benefit increase for retirees in variable account
 
If you remained in the Variable Annuity Plan at retirement, the variable annuity portion of your benefit is adjusted annually based on the value of the variable portfolio on October 31.
 
PERS reviews any changes in the variable fund from October 31 through October 31 to determine if the retiree’s monthly payments should be increased, decreased, or remain the same.
 
The variable fund investment value for the period ending October 31, 2004, increased 9.88 percent, which means there will be an increase to the variable portion of your monthly benefit.
 
The increase in the benefit amount for retirees who remained in the Variable Annuity Plan will be reflected beginning in the February 1, 2005 retirement payments.
 
Members in the Variable Program who retired before January 1, 1978, will receive a 4.15 percent increase in monthly benefit payments for the variable portion of their accounts.
 
Members who retired on or after January 1, 1978, but before June 1, 1992, will receive a 2.69 percent increase in monthly benefit payments for the variable portion of their accounts.
 
Members who retired on or between June 1, 1992, and November 1, 2003, will have the variable portion of their accounts increased by 1.74 percent.
 
Those members who retired after November 1, 2003, will have a change in benefit based on the performance of the variable fund since the date they retired.