Assets needed now that equal the present value of future benefit distributions as determined by the actuary.
 

The legal document which defines the terms and conditions of a YMCA’s participation in the Retirement Plan and Tax-Deferred Savings Plan.
 

An amount that is set aside at the time of retirement for use as a death benefit. The amount of the Retired Death Benefit is equal to the first year's maximum annuity based solely on the basic Retirement Plan contributions.
 

The age at which you choose to begin receiving your annuity. The earliest retirement age is 55.
 

The first day of the month when you choose to begin your annuity. The retirement date must be after you sever YMCA employment. Example: John is age 62 and his last working day at the YMCA is October 11, 2012. He may choose a Retirement Date anytime on or after November 1, 2012.
 

A defined contribution, money purchase, church pension plan sponsored by the YMCA Retirement Fund.
 

Pre-tax retirement savings transferred to the Tax-Deferred Savings Plan from an eligible employer plan under IRS Code Section 401(a), 401(k), 403(a), 457(b), a tax-sheltered annuity under IRS Code Section 403(b) or a Traditional IRA, or tax-deferred money from a SEP IRA or a SIMPLE IRA plan (that has been established for at least two years). Since March 2003, rolled over amounts are deposited in the Savings Plan only.