What kind of plan is SPTRFA?

The SPTRFA administers two types of plans: Basic and Coordinated. Both are defined benefit plans. This means that you are guaranteed a lifetime, monthly retirement benefit from the SPTRFA if you meet eligibility requirements. Your benefit is not determined solely by your employee contributions. Rather, it is based on a formula, in which allowable retirement service credit and salary are key factors.

Posted in: Active Membership

Comments are closed.