By Marti Zins TRA Representative on Retired Governing Board
Frequently people ask why it is important to maintain a pension plan for teachers and why worry if it is a defined benefit (DB) plan or a defined contribution (DC) plan. Let’s take the issue apart for understanding.
A defined benefit (DB) plan, also called a traditional pension plan, is a pooled retirement plan that offers a predictable monthly benefit in retirement. It provides retirees with an in-come for life, as you cannot outlive your assets. Typically both the employer and employee contribute, often in matching amounts. In
