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Plan 3 members can use their investment contributions to purchase the Total Allocation Portfolio (TAP) Annuity. This calculator estimates TAP Annuity payments.
Your estimate results depend on the purchase amount of the annuity, the age you’ll begin receiving the annuity and whether you choose a beneficiary option. Keep track of multiple estimates by naming them when you save the information. Find more information about annuities at www.drs.wa.gov/annuity.
To proceed with the calculator, select the Terms of Use box below.
Terms of Use Disclaimer
- I understand that the use of this calculator is for planning purposes only. This is an estimate and calculations may vary.
- I agree that the results obtained herein are a product of my own input and do not constitute guarantees of any kind from the Washington State Department of Retirement Systems or any other person or entity.
Load a previously saved TAP Annuity scenario.
Enter the name of the person who will receive a lifetime benefit as your survivor if you select a Joint Life Annuity instead of a Single Life Annuity.
Select which Plan 3 retirement system you are in.
- PERS: Public Employees' Retirement System
- SERS: School Employees' Retirement System
- TRS: Teachers' Retirement System
Enter the date you'd like to begin receiving your annuity payments.
Enter the amount from your Plan 3 investment contribution account that you'd like to turn into an annuity. The amount entered can be all or part of your account balance, but it must be at least $25,000.
You may choose to receive your TAP Annuity under one of the following four options:
- Option 1 - Single Life: Your annuity will be paid to you for as long as you live. No ongoing monthly benefit is available for anyone after your death. This provides the largest monthly amount to you.
- Option 2 - Joint Life 100% Survivorship: Your annuity is reduced for your lifetime. At your death, your survivor will continue to receive the same amount for the remainder of his or her life.
- Option 3 - Joint Life 50% Survivorship: Your annuity is reduced less than under Option 2, but your survivor receives only 50 percent of your monthly annuity payment when you die.
- Option 4 - Joint Life 66 2/3 Survivorship: Your annuity is reduced; and your survivor receives 66-2/3 percent of the amount at your death.