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TRS explains AAI lump-sum option and annuity choices for retiring teachers
Summary
TRS officials described the Accelerated Annual Increase (AAI) option for Tier 1 members, the standard and reversionary annuity choices, and tax and rollover rules for lump-sum payments.
Nick Stabler of the Teachers’ Retirement System explained options that affect the size and structure of retirees’ ongoing monthly benefits and available lump-sum settlements.
Stabler described the Accelerated Annual Increase program (AAI) as an optional, upfront settlement of future cost-of-living increases for Tier 1 members whose first Illinois public service began before Jan. 1, 2011. He said only Tier 1 members retiring by June 30, 2026, are eligible to elect AAI and that the official…
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