Plan Highlights

As a member of the SERS hybrid plan, a portion of your retirement benefit will come from the SERS defined benefit pension plan and a portion will come from the SERS defined contribution investment plan. Learn more about each plan, below.

Defined Benefit Plan
Defined Benefit Plan

In the SERS defined benefit pension plan, your benefit is defined by a calculation that considers your years of service and salary. Your benefit grows each year based on an annual benefit accrual rate and, when you retire, is paid to you in equal monthly payments for your lifetime. In this type of plan, the majority of the investment risk is on the plan provider – your employer – and the assets are managed centrally and professionally.

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Defined Contribution Plan
Defined Benefit Plan

In a defined contribution plan, you pick how your money will be invested for retirement and you assume the investment risk. You and your employer make mandatory contributions toward your investment plan and the amount you have for retirement depends on the accumulation of contributions and the performance of the investments you choose.

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