Pension plan for faculty, librarians and senior administrative officers
 
This is a defined contribution pension plan, so-called because your contributions and the University’s contributions are defined by the terms of the plan. These contributions are held in your Member Account and invested at your instructions during your career with the University.
 
The amount of your pension at retirement will be determined at that time based on the value of your Member Account (contributions plus investment earnings), the type of pension you elect to purchase and the prevailing long term interest rates at that time.