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 Independence 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:

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Jun

The Retirement System City of Detroit has partnered with BidNet Direct as part of the MITN Purchasing Group

The Retirement System City of Detroit has partnered with BidNet Direct as part of the MITN Purchasing Group and will post their bid opportunities to this site. As a vendor, y...

Apr

New look to checks and check stubs coming soon

RSCD is in the process of changing their payroll processor, therefore your check stub or check will have a different look. If you are receiving two checks or stubs they will ...

Important message from the Trustees of the City of Detroit General Retirement System Click Here

Important Retirement System News You Need To Know Learn More ›

GRS January 2019 Newsletter Click Here

Please be advised that due to severe weather, the US Postal Service cancelled postal service in many areas of the country for two days. Therefore, members may see a delay in the receipt of mailed checks/stubs.

Note: 1099's for 2018 have been mailed. Members can view and print the 1099's from the Paylocity website.

Important Messages:

* RSCD’s new payroll system provides retiree’s with a self-service portal called Web Pay. Retiree's can update address information, view pay stubs, update direct deposit information. Click here to view directions on how to access the new features.

* Your June 1, 2018 pension check and stub will have a different look due to the changing of check processing companies. You may also see an increase or decrease in the amount of tax withholding on your check. This may be due to the combing of multiple checks into one payment and/or a change in state tax tables. Contact RSCD if you would like to adjust your tax withholding.

Annuity Loan Program