Plans
Defined Contribution Plan
The Defined Contribution Plan (DCP) administered by PERA is exclusively for physicians, elected local governmental officials, city managers, and governmental volunteer ambulance service personnel.
Members of the DCP designate a percentage of total contributions to be placed in one or more of seven accounts of the Minnesota Supplemental Investment Fund. Employee and employer contributions are combined and used to purchase shares in the accounts selected by the employee. Upon termination of service, a DCP member is entitled to a lump-sum payment of the values of shares held, with interest or dividends that have accrued. No monthly retirement benefits are available.
PERA’s DCP is a tax-qualified plan under Section 401(a) of the Internal Revenue Code. As a result, federal and state taxes on DCP contributions are deferred until the member withdraws the funds.
If you are terminated from public service or planning to terminate prior to withdrawing your funds, please fill print and complete our refund application. For more information about refund, please see our refund page.
If you are over 65 and want to continue working at your public employer, please contact a PERA Service Representative for the active employee refund application. You may elect a distribution of at least $5,000 or more of your DCP account once each calendar year. The required minimum distribution is $5,000.
