Realistically, you may need more than the PERSI Base Plan and Social Security benefits to enjoy a comfortable retirement. Are you saving enough for your retirement? The PERSI Choice 401(k) Plan is here to help you fill in any income gaps.
The Choice 401(k) Plan is your voluntary, supplemental PERSI account. It contains any contributions you make, any rollover contributions you request from other plans, and any employer contributions made on your behalf, as well as the investment earnings on those funds. It is a “defined contribution” plan, meaning you decide how much to contribute. Unlike your PERSI Base Plan account, the amount you receive at retirement is based on the contributions and earnings of the account.
You have a number of different investment options to choose from, which have been carefully selected by the PERSI Retirement Board. They include conservative, balanced, and aggressive options for you to choose from, based on your personal risk tolerance. To get an idea of how each of the investment options has performed in the past, click here to view the latest Choice 401(k) Plan Investment Performance Summary.
PERSI contracts with Empower Retirement to provide recordkeeping services for your Choice 401(k) Plan account. This includes individual counseling and assistance for participants. For more on the Empower Retirement Counselors, or to schedule an appointment, click here.