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Decision Modeling Worksheets

The Choice is Yours, The Time is Now

The Montana Public Employee Retirement Administration (MPERA) is providing the following information and worksheets, as an educational tool, to help you make your decision: Defined Benefit Retirement Plan or Defined Contribution Retirement Plan

Disclaimer

Purpose

The following information and worksheets are designed to let you compare the Public Employees' Retirement System (PERS) plans. These worksheets will allow you to compare your projected retirement income from the two plans. You will be able to:
  • Project your estimated retirement income from the Defined Benefit Retirement Plan
  • Project your Defined Contribution Retirement Plan balance and the estimated income that could be produced from that balance
Some members in the PERS will prefer to remain in the Defined Benefit Retirement Plan (DBRP) while others will see an advantage in transferring to the Defined Contribution Retirement Plan (DCRP). Only you can make this decision.

Overview

Rarely, if ever, will the benefit from either PERS retirement plan fully meet retirement income needs. The PERS plans are one leg of what is generally known as the "three-legged retirement stool". The three legs are: To project the potential benefits for each PERS retirement plan and make your retirement plan choice, you may wish to take the following steps:
  1. Review the DBRP and DCRP Basics
  2. Determine Retirement Income Needs - Worksheet 1
  3. Project Income from Defined Contribution Retirement Plan - Worksheet 2
  4. Project Income from Defined Benefit Retirement Plan - Worksheet 3
  5. Compare Retirement Income Needs to Projected PERS Income - Worksheet 4
  6. Decide Which PERS Plan Best Meets Your Needs - File Your Election
  7. Additional Considerations