You can start an annuity as early as age 55 regardless of the number of years of service you have. You must have more than $5,000 in either the Retirement Plan or Savings Plan to qualify for a lifetime annuity from either of those Plans. To combine an annuity from both Plans at the same time, you must have more than $5,000 in each Plan.
 

While you are still employed at a participating YMCA you do not have to begin your annuity at any specific age. Once you are no longer employed at a participating YMCA, you must begin receiving benefits no later than April 1 of the year following the year you reach age 70½ or the year you stop working for the YMCA, whichever is later.
 

When you decide to start an annuity, you must notify the Fund at least 60 days in advance. Please call our Customer Service Department at 1 800-RET-YMCA and we'll send you the forms.
 

Your annuity is calculated based on your age and account balances at retirement, the annuity option you select, and the interest rate that is used to convert your account balances into an annuity.
 

Yes, the Fund offers several Joint & Survivor Annuity options, which provide a monthly income for your survivor after you die.
 

You pay taxes on the contributions the YMCA made in your name. The YMCA contributions were all tax-deferred so this is the first time taxes will be paid on this money. The interest your money has earned while in the Fund will also be taxed.

If you made after-tax contributions, you will not be taxed on these contributions again. For example, if you were in the Plan under a YMCA/Employee Shared Agreement, your contributions were made after tax so your annuity will not be taxed on this money. The Fund calculates the portions of your annuity check that are taxable and not taxable, according to IRS rules. Each year the Fund will report this information to you.

The IRS requires that your already-taxed contributions be distributed over your life expectancy which is calculated using their official tables. When you retire, your first annuity check will come with an explanatory leaflet titled, Retirement Benefits and U.S. Income Tax.

NOTE: This is not tax advice, but a statement of how your accounts are taxed. If you need advice, give this information to your accountant or other tax professional.
 

Whether you are hired by any YMCA in the future is entirely at the discretion of the employing YMCA. However, a pre-arranged strategy to collect retirement benefits while still employed is a violation of the Plan's rules. Recent federal law permits but does not require a qualified retirement plan to distribute benefits to participants who attain age 62 while still employed. The YMCA Retirement Fund has not adopted such an amendment to the Retirement Plan. You must completely end your YMCA employment before commencing your retirement annuity. If you are employed by a YMCA after retirement, you can again participate in the Retirement Plan based on your compensation at that time. Your retirement annuity will not be suspended if you become re-employed by a YMCA after retirement.
 

The Annuity Estimate Calculator can help you plan for your retirement. It will project how much your benefits will be given certain assumptions you can make. You can also call the Customer Service Department at 800-RET-YMCA and request an Annuity Estimate.