Employer retirement plans typically come in two types: defined benefit and defined contribution.

In a defined benefit plan like MOSERS, retirees receive a predetermined monthly pension based on factors like final average pay and years of service. The pension continues for life, ensuring retirees won’t outlive their funds.

Defined contribution plans, such as CURP, 403(b), or 457(b), involve a separate investment account funded by contributions from the employer and/or employee. Upon retirement, employees take their account balance and investment returns. However, the final value is subject to market fluctuations.

CURP participants can switch to MOSERS MSEP 2011 after six years of CURP enrollment.

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