October 02, 2018 22:13 Updated Follow Pensions are earned benefits that are paid in equal monthly amounts for life. The Annuity Savings Account (ASA) is a tax-deferred savings account administered in an employee's name. Related articles Which PERF plan option should I choose? When can I retire from PERF or TRF? How do I roll over my Defined Contribution (DC) account? Will the ASA Only plan name change to My Choice: Retirement Savings Plan affect my existing account? Where do I find the TRF handbook?