Is the income from a fixed annuity (SERS or TIAA) ever increased once payments have commenced?
Legislative action is required to increase SERS annuity payments. The most recent increase occurred in 2002. TIAA fixed annuities pay a guaranteed amount of income plus dividends as declared by the TIAA Board of Trustees. While the TIAA dividends will fluctuate, the guaranteed income of a TIAA traditional fixed annuity will never go down.
Related Questions
- What if I need to receive more money in addition to my fixed monthly income payments? Can there be any type of variability as to receiving more money before retirement, if needed?
- Is the income from a fixed annuity (SERS or TIAA) ever increased once payments have commenced?
- Are the annuity payments or cash-out amounts taxable as income?