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System reports annuity payouts, loan portfolio totals and limited retiree loan program in development
Summary
Administrative reports showed $124.3 million in annuity payments for the reporting period, 2,350 loans outstanding with $21.3 million outstanding balance, and staff said a limited retiree loan program is being implemented with system vendor support.
At the Board of Trustees meeting the Retirement System's CEO reported on member services, annuity payments and the loan portfolio.
Garret, CEO, said that for the period Oct. 1, 2024, through March 15, 2025, annuity payments totaled $124,300,000, with service retirement annuities representing about $121,300,000 of that total. He said…
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