Does PERA offer Life Insurance?
Yes. PERA offers decreasing-term group life insurance, available to you if your employer has made provision for payroll deductions of your premiums. The premiums are fixed and the death benefit amounts decrease with age. You must be enrolled in the coverage before termination or retirement for your coverage to continue as an inactive member or a retiree. For further information see the Life Insurance section in Member Information. Defined Contribution Plan (DCP) Can anyone participate in PERA’s Defined Contribution Plan?No. The DCP is exclusively for physicians, elected local governmental officials and governmental volunteer ambulance service personal. What is the difference between the Defined Benefit Plans (Coordinated Plan) versus the Defined Contribution Plan?In the Defined Contribution Plan you choose how this money is invested and the benefit is determined by the performance of those investments. The Defined Benefit Plan (Coordinated Plan) is a traditional pension plan whereby th
