Q: I rolled money into PERF/TRF and created a Rollover Savings Account (RSA). It’s not clear on my statement whether my RSA is included, and its balance.
A: For this statement, both your ASA and RSA balances are combined and listed in the Fund Activity section. If you would like to see the balances of your ASA and RSA separately, please log in to your PERF Online/TRF Interactive account and select My Account, Account Details, Account Balance and then View Balance By Type. Or, call us at (888) 526-1687 (PERF) or (888) 286-3544 (TRF) and a Customer Service Representative will assist you.
Q: I chose to allocate my current ASA balance and future contributions separately. On my statement, I have several funds showing with some listing a Future Investment Allocation percent and others list 0.00%. Are all my ASA allocations represented on the statement?
A: Yes, both your current and future allocations are represented. Funds with a 0.00% indicate you have money in that fund; however, you have chosen to not have any additional monies added (i.e. future contributions from you, your employer or a combination of both) to that fund except natural gains and losses as occurring in the stock market.
Q: I see a Transition Account listed. What is that?
A: If a member chooses to annuitize all or a portion of his/her Annuity Savings Account (ASA) and/or Rollover Savings Account (RSA) at retirement, the money is placed into a transition account which prevents potential swings in value. Members will earn interest based on the current Guaranteed Fund rate set at 0.28 percent during the transition account period.
Q: Why is this statement different than the last statement I received from PERF/TRF?
A: The previous statement was called a transition statement. Its purpose was to simplify the transition from the old lineup of investment funds to the new lineup by providing Annuity Savings Account (ASA) investment transition details from July 1-31, 2010.
Q: How can my future contributions column be 0.00%?
A: If you elected to switch your current asset balance to different funds, but opted to leave future contributions as they are, the 0.00% indicates no new contributions from you, your employer, or a combination of both, will go into that fund. The balance in that fund will gain or lose money based on the investments.
Q: I requested a distribution of my ASA account. I have a statement showing a very small amount currently in my account. If I took a distribution, how can I still have a balance?
A: Sometimes, contributions from your employer will come in after a distribution has occurred. This is considered a trailing contribution. Contact our office at (888) 526-1687 (PERF) or (888) 286-3544 (TRF) if you have further questions regarding distributions.
Q: There are 18 funds listed under the Account Balance Allocation section, but the pie chart to the left doesn’t have that many colors. What is the purpose of this section?
A: The Account Balance Allocation section shows all the funds in which you can invest your account. Notice the numbers in parentheses ( ). These numbers indicate the percent of your account invested in that particular fund. The pie chart to the left of that section visually represents how much money is invested in each of the funds you elected.
Q: I don’t understand the Past Performance of Investment Fund Options section. What is the purpose of it?
A: The purpose of this section is to provide members with the historical performance of the fund options. These investment returns include both actual performance results and the performance results prior to inclusion of your plan. Prior to Aug. 1, 2010, all performance presented is calculated using the investment managers’ performance results prior to inclusion in your plan. Starting on Aug. 1, 2010, all performance presented consists of actual investment returns experienced by members. For more information regarding your investments, you may consider meeting with a financial advisor.
Q: Who can I contact if I want to discuss my statement?
A: You can contact our office at (888) 526-1687 (PERF) or (888) 286-3544 (TRF) to discuss your statement with a Customer Service Representative. We are available Monday through Friday from 8 a.m. to 8 p.m. EST.
For additional information on how to read your statement, download the Understanding Your Quarterly Member Statement fact sheet here.