Annuity Loan Program

Annuity Loan Program

The GRSD annuity loan program allows qualified applicants to borrow money against the cash value of your annuity savings fund. A full description of the program is available by reviewing the Annuity Loan Questions and Answers Booklet.

Any active general city employee (coded active and paid on City payroll) who is or has been a participant in the Defined Contribution Plan may be eligible to withdraw from their annuity savings fund.

Applications can be downloaded here and either emailed, faxed or delivered to First Independence Bank for processing. Please note that applications must be returned only to First Independent Bank. The Retirement System is not able to accept applications for the annuity loan program.

Local branches of First Independence Bank include the following locations:

Annuity Loan Downloads


Annuity Loan Questions and Answers Booklet »


Annuity Loan Application »


Forms can also be obtained from First Independence Bank

Main branch

 

Garfield Branch

 

Seven Mile Branch

 

Current News That May Interest You:

read all news »

Nov

03

Active Employees married to a City of Detroit Retiree are now eligible to enroll their spouse for health care coverage effective January 1, 2017

Please visit the online system www.mydetroitbenefits.com to enroll your retired spouse. Eligibility Documentation is required. You may also call toll-free (855) 224 6200 to compl...

Read More »

Mar

16

Last call for retirees to collect health funds

Time is running out for thousands of city retirees who are eligible to recoup millions in out-of-pocket costs for medical co-pays and prescriptions they paid for last year.

Read More »

Important Retirement System News You Need To Know Learn More ›

A Message from GRSD Chairman Tom Sheehan Read Letter ›


 

The 2016 Annual Report is now available

. Click here to view report

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