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Pursuant to the authority vested in them under an Agreement and Declaration of Trust entered into the 21st day of September, 1973, the Board of Trustees established the Annuity Fund.
I.A.T.S.E. Annuity Fund encourages and assists participants by providing additional financial security at retirement. While there are provisions for withdrawal options they are secondary to the primary objective of retirement income.
The Annuity Fund was designed to provide participants with a retirement savings program on a long term basis. There are advantages to maintaining an Annuity Account. Under present tax law the Annuity Account is not subject to taxes until the money is withdrawn from the account.