What is SRBR and how is it distributed?
The Federated Supplemental Retirees’ Benefit Reserve (SRBR) is a reserve account, which is 10% of the Plan’s pre-funded actuarial accrued liability as of June 30, 1999. Each June 30, interest earned is credited to the SRBR account plus 10% of excess earnings, which is the amount after SRBR interest credited and the actuarially assumed interest rate has been credited to other reserve accounts. The excess earnings will be added to the principal SRBR amount and not be available for distribution. Federated distributions began in 2000 to members and survivors as of June 30, 2000, with a continued annual distribution beginning in June 2000 and continuing for three consecutive years, February 2001 and February 2002.
