Navigating the world of retirement plans can seem daunting at best. How much income will you need in retirement and what plans are better equipped to ensure you get there? How much can you hope to accumulate in a defined contribution plan (e.g. 401(k)) versus a defined benefit plan (e.g. a pension)?
A recent study of retirement plan design looked at the type of plan Colorado PERA offers in comparison to other plan designs. The study concluded that Colorado PERA is more efficient and uses dollars more effectively than other types of plans in use today. The infographics below summarizes the data and help answer the question, how much income will each plan help replace in retirement?
Read the Gabriel, Roeder, Smith & Company report on PERA’s income replacement in retirement efficiency and cost effectiveness.