The Public Employees’ Retirement Fund (PERF) Hybrid Plan is the retirement plan option available to staff and service employees who qualify for benefits. This plan consists of both a pension plan and a defined contribution (DC) account.
In addition to the state mandated contribution percentage to the employee’s pension plan, the University also contributes the required 3 percent to the employee's defined contribution (DC) account.
Employees may choose to make post-tax contributions to their PERF Hybrid Plan DC account. Post-tax contributions may be made from 1 percent to 10 percent of the employee's gross pay. This election may be changed at any time.
Ball State also offers two voluntary retirement plans to which employees may make retirement savings contributions.