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How does the 2008 financial downturn affect retirees who stayed in the Variable Annuity Program at retirement?

April 26, 2017affect Annuity downturn financial program Retirees retirement stayed

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How does the 2008 financial downturn affect retirees who stayed in the Variable Annuity Program at retirement?

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For some 11,000 PERS retirees who remained in the Variable Annuity Program at retirement, the variable annuity portion of their monthly retirement benefit is adjusted every January for payments beginning February 1.