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Master Retirement Plan

Master Retirement Plan
(for more information, see DMBA)

The Master Retirement Plan is an employer-funded, defined benefit plan. It is supplemental to personal retirement preparations. It is solely funded by BYU-Idaho.

To prepare for retirement you should consider a variety of sources for income. These sources generally include:

       •  Master Retirement (solely funded by BYU-Idaho)
       •  Supplemental Retirement Savings (YOUR contributions, usually through a 401(k) program)
       •  Social Security
       •  Personal Savings (such as savings accounts, investments, property, etc.)

To be eligible for the "Master Retirement Plan" you must be "vested." In general, this means that you have worked for 5 years of eligible service at the university. Upon retirement, you receive a retirement benefit from the university based on your earnings and years of service.

(The Supplemental Retirement Savings Plan (or Thrift Plan) is a long-term, defined contribution plan - otherwise known as a 401(k) investment plan. Eligible employees can contribute a percentage of their gross income for retirement and receive matching contributions from the university. Employees can defer taxes on contributions or pay them upfront. A number of investment funds are available to diversify contributions to meet personal circumstances and investment preferences.)


[DMBA's Annual Form 5500 Financial Report - Form 5500 is a report to the federal government. In this report is Schedule SB which contains technical data about whether a plan has enough funds to pay promised benefits and is complying with federal pension funding rules.]