THE ANNUITY FUND
The SOC Annuity Trust Fund is administered by Principal Financial Group ("The Principal"). The old SOC Annuity Fund was liquidated in March 2009 and $109 million in assets was transferred to The Principal. As of December 2021, the SOC Annuity Fund asset balance exceeded $700 million. This is the highest recorded balance in our Fund’s history.
The Superior Officers Council Annuity Fund’s (the “Plan”) purpose is to help you accumulate the funds you will need for retirement. The Plan is one of the best ways for you to accomplish that goal. Your personal financial security is one of life’s most important objectives. Chances are, you are hoping for a long and fulfilling retirement. A significant part of how rewarding your retirement experience will be depends on how well you have planned for it. Your respective Union shares your concerns and offers the Plan to help you build a stronger financial future for you and your family.
NOTE: You must be retired prior to making a distribution/rollover request from the SOC annuity fund.
Principal Financial Group
The Principal website is a one-stop resource for tools, information and news to help make educated decisions and take control in planning for your future retirement. You can access account information, investment options, and historical information.
JOINING THE PLAN
You are enrolled in the Plan if you are employed by the Police Department of the City of New York in any of the following classifications: Lieutenant, Captain, Surgeon or Captain assigned to higher rank, for whom the City of New York is required to make a contribution to the Plan.
The "Distribution Election Form" can be requested by contacting the SOC Office at 212.964.7503 or emailing [email protected].
If you wish to review or change your beneficiary designation you may contact the SOC Fund Office 212.964.7500, option 1.
ACCESSING YOUR ACCOUNT
Your account information is easily accessible online. All you need to get started is the Superior Officers Council Annuity Trust Fund Plan ID# 710466 and then:
- Go to www.principal.com, select Personal from the Account Login box on the left side and click Go.
- Enter your username and password and Login.
- If you are a first-time user, you will need to enter your Social Security number and the Plan ID number to establish an account.
- Follow the prompts, answer the security verification questions and you are in!
CHANGING INVESTMENT ELECTIONS
Changes can be made online by accessing Principal’s web site at www.principal.com or through TeleTouch® 800.547.7754.
NOTE: When transferring existing balances from one investment option to another, redemption fees or restrictions on transfer frequency may apply. Refer to the redemption fee and transfer restriction policy on the Principal Retirement Center at www.principal.com.
For Retirement and Investor Services call Principal’s Client Contact Center at 800.547.7754. Counselors are available to answer questions Monday through Friday, 7 a.m. - 9 p.m. (CT).
To find out more information about the Principal Financial Group®, you can visit their home page at www.principal.com.