PASS202

2 Sides of Pensions

Defined Contribution Plan
These are individual tax deferred investment accounts funded by the employee. There is no guarantee of how much you will receive each month upon retirement. It is up to the employee to decide how much to invest and many accounts do poorly.

Defined Benefit Plan
A traditional plan usually administered by the state. The employee will no how much they receive upon retirement and the benefit is guaranteed. Professionals manage the account. **** NOTE***** This is the IMRF plan which you participate in.

PASS202

Building Reps try a 10 minute meeting

This year try a 10 minute meeting for the members of your building. In your building rep handbook there are instructions as to how to conduct a short meeting. They should be, informative and if there are concerns forwarded through the proper channels. Lets get together and communicate.