Plan Highlights

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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The State Employees’ Retirement Board has contracted with Empower Retirement as the third-party administrator of this plan and selected a range of investment options for you to choose from, from conservative to aggressive.

Investment Information

You and your employer make mandatory contributions toward your investment plan each pay day. The contributions are “defined” because the amounts that you both contribute are known in advance.

You can also make additional voluntary contributions toward your investment plan; however, there may be tax advantages to doing so through the Deferred Compensation Plan.

If you leave state employment before you work three years, you have a right to your contributions; however, you would have no right to your employer’s contributions. The value of those contributions will vary with investment gains and losses.

You can transfer money between investment options (subject to plan rules) and change how your contributions are invested at any time through your online Empower Retirement account. You also can roll over balances from your other eligible plans into your SERS defined contribution plan.

Empower offers educational information and tools to help you plan for retirement and select your investments. If you want professional assistance with your investments, Empower also provides investment advisor services at an additional charge.

Annual SERS Retirement Statement

If you are working for a SERS-participating employer and contributing to the Defined Contribution Plan (investment plan), we will send you an annual statement that provides a snapshot of your investment account as of December 31. This annual statement is in addition to quarterly statements that the third-party administrator produces for you. Your annual statement lists the contributions you and your employer made to your investment account, any rollovers you made from other investment plans, the change in value of your account, the expenses withheld from your investment account, and any withdrawals or distributions you took from your account over the year. 2019 Sample DC Plan Statement

Domestic Relations Order

Defined Contribution Plan Sample Domestic Relations Order

SERS Newsletter

Twice a year we send our members a short newsletter with important news, tips, and reminders.

Spring/Summer 2020 Fall/Winter 2019
Defined Contribution Plan Snapshot

A fact sheet that includes up-to-date information on the number of participants, contributions, and more.

2019