§ 22106 Annuity Deposit Contributions

• •This is about extra money some people put into their retirement before July 1, 1972.
• •The extra money was on top of what they had to pay to get their retirement benefits.
• •The goal was to get more money when they retire.

Imagine you have a piggy bank for your retirement. Every month, you put in $10 because that’s what you’re supposed to do. But back in 1970, you decided to put in an extra $5 every month so you’d have even more money when you retire.

This law talks about that extra $5 you put in. It’s called an 'annuity deposit contribution' and it was a way to save even more for retirement.